News

The Bank of Canada is raising its target for the overnight rate to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent.

Growth in the Canadian economy is projected to reach 2.8 per cent this year before slowing to 2.0 per cent next year and 1.6 per cent in 2019.

Responses to the summer Business Outlook Survey suggest that business activity is continuing to gain momentum, buoyed by indications that domestic demand will improve further. Positive business prospects are increasingly widespread across regions and sectors.

Survey results for 2017Q2 suggest that overall business-lending conditions were essentially unchanged for the fourth consecutive quarter.

Deputy Governor Lynn Patterson discusses how the Bank gathers financial market intelligence and what it is learning.