News

Good afternoon, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I are happy to be before you today to discuss the Bank’s Monetary Policy Report (MPR), which we published last week. When we were last here in April, we were celebrating the fact that we had upgraded our economic forecast following a long […]

Governor Stephen S. Poloz discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.

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.

Projections for Canadian economic growth have been increased to 3.1 per cent this year and 2.1 per cent in 2018, with growth of 1.5 per cent forecast for 2019.

Results from the autumn Business Outlook Survey point to continued positive business sentiment across the country, with business activity becoming entrenched. Firms’ prospects remain healthy, although several survey indicators have moderated from the strong summer results.