COVID-19: Key announcements

Access news on the Bank’s actions to support the economy and financial system during the COVID‑19 pandemic.

Monetary policy

July 15, 2020

Monetary Policy Report – July 2020

The Bank expects a sharp rebound in economic activity in the reopening phase of the recovery, followed by a more prolonged recuperation phase.

Content Type(s): Publications, Monetary Policy Report

June 3, 2020

Bank of Canada maintains target for the overnight rate, scales back some market operations as financial conditions improve

Media Relations Ottawa, Ontario

The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent.

Content Type(s): Press, Press releases

April 15, 2020

Bank of Canada maintains overnight rate target and unveils new market operations

Media Relations Ottawa, Ontario

The Bank of Canada today maintained its target for the overnight rate at ¼ percent, which the Bank considers its effective lower bound. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank also announced new measures to provide additional support to Canada’s financial system.

Content Type(s): Press, Press releases

Support to key financial markets

June 29, 2021

Bank of Canada publishes transaction-level data for its discontinued asset purchase programs

As previously announced on March 23, the Bank is publishing transaction-level data for its discontinued asset purchase programs that were introduced to support key financial markets during the COVID-19 pandemic.

Content Type(s): Press, Market notices Source(s): Bankers’ Acceptance Purchase Facility, Commercial Paper Purchase Program, Corporate Bond Purchase Program, Provincial Bond Purchase Program, Provincial Money Market Purchase Program

June 28, 2021

Operational details for upcoming secondary market purchases of Government of Canada securities (July 5-16)

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).

Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program

June 14, 2021

Operational details for upcoming secondary market purchases of Government of Canada securities (June 21-July 2)

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).

Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program

Liquidity for individual financial institutions

There are currently no entries.

International co-operation

There are currently no entries.

Speeches and statements

March 11, 2021

COVID-19, savings and household spending

Remarks (delivered virtually) Lawrence L. Schembri Restaurants Canada Toronto, Ontario

Deputy Governor Lawrence Schembri talks about the Bank’s latest interest rate announcement and discusses how COVID-19 has affected savings and the outlook household spending.

Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Coronavirus disease (COVID-19), Domestic demand and components, Monetary policy, Recent economic and financial developments, Service sector

February 23, 2021

Canada’s labour market: rebound, recuperation and restructuring

Remarks (delivered virtually) Tiff Macklem Edmonton Chamber of Commerce and Calgary Chamber of Commerce Calgary, Alberta, Edmonton, Alberta

Governor Tiff Macklem talks about the COVID-19 pandemic and major economic forces are affecting the labour market, and the need for all groups to benefits from the recovery.

Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Coronavirus disease (COVID-19), Labour markets, Monetary policy, Potential output, Recent economic and financial developments

February 10, 2021

Payments innovation beyond the pandemic

Remarks (delivered virtually) Timothy Lane Institute for Data Valorisation Montréal, Quebec

Deputy Governor Timothy Lane talks about how the Bank of Canada is contributing to the modernization of our payments ecosystem, and how the COVID-19 pandemic has highlighted the need to make payments more convenient for all Canadians.

Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Bank notes, Coronavirus disease (COVID-19), Cryptocurrencies, Digital currencies and fintech, Payment clearing and settlement systems

Corporate governance

Careers

Featured

Retail payments supervision

Climate change and the Bank of Canada

Committees

Canada Mortgage Bonds

Our next $20 bank note

Economic survey results

Historical publications

Monetary Policy Report—October 2024

People

Info

Speech: Greater Charlottetown Area Chamber of Commerce

Staff economic projections

COVID-19: Key announcements

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On this page Table of contents

Monetary policy

Support to key financial markets

Liquidity for individual financial institutions

International co-operation

Speeches and statements

On this page