COVID-19: Key announcements

The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent.

The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent.

As the economy recovers from the COVID-19 pandemic, the Bank is forecasting growth of around 6 ½ percent this year, slowing to about 3 ¾ percent in 2022 and 3 ¼ percent in 2023.

As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP).

As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP).

As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP).

Following the previous announcement regarding Additional Measures to Support Market Functioning, the Bank is announcing today that it is activating the Contingent Term Repo Facility (CTRF) effective Monday April 6, 2020 and that it will remain open for the next 12 months.

The Bank of Canada today welcomed the move by a number of Canadian banks, including the six largest, to draw on its new Standing Term Liquidity Facility (STLF).

The Bank of Canada announced today that it successfully launched its new Standing Term Liquidity Facility (STLF).

Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.

Bank of Canada Governor Tiff Macklem talks about the Bank’s latest interest rate announcement and discusses how the Bank could adjust monetary policy and its quantitative easing program as the recovery progresses.

Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.