News

In the Report, the Bank noted that in an environment of continued high uncertainty, the global recession has intensified and become more synchronous since the Bank's January Monetary Policy Report Update, with weaker-than-expected activity in all major economies.

The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of a percentage point to 1/4 per cent, which the Bank judges to be the effective lower bound for that rate.

The Bank of Canada today announced the appointments of David Wolf to the permanent position of Adviser and Jean Boivin to the rotating role of Special Adviser for the term 2009-2010.

The Bank of Canada's Annual Report for 2008 was tabled in the House of Commons today.

Although the global and Canadian economies are in recessions triggered by the most severe financial meltdown since the 1930s, Canadians can have confidence that unprecedented policy measures will restore growth, Bank of Canada Governor Mark Carney said today.