News

Thank you for the opportunity for Tiff and me to be with you today to discuss the October Monetary Policy Report, which the Bank published last week. The Bank aims to communicate our objectives openly and effectively and to stand accountable for our actions before Canadians. One of the best ways to do this is […]

Press conference following the release of the Monetary Policy Report.

The Bank of Canada today announced that it is maintaining 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 Canadian economy is expected to grow by 1.6 per cent in 2013, 2.3 per cent in 2014 and 2.6 per cent in 2015, and to reach full production capacity around the end of 2015.

Weak demand and uncertainty regarding future demand continue to weigh on firms’ investment decisions and near-term capacity planning, according to responses to the autumn survey.