News

The Canadian economy has made excellent progress during 2017, but there is still important work to be done on several longer-term issues, Bank of Canada Governor Stephen S. Poloz said today.

The Bank of Canada today maintained its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

The Bank of Canada today announced the finalists for the 2017–18 edition of The Governor’s Challenge, a competition in which university students simulate the role of advisor to the Bank’s Governing Council.

Press conference following the release of the Financial System Review.

The high level of household indebtedness and housing market imbalances remain the most important vulnerabilities identified by the Bank of Canada in its Financial System Review (FSR), published today. While these vulnerabilities are still elevated, improving economic conditions and recent changes to housing policy should support an easing of these vulnerabilities over time.