News

The Canadian economy has grown faster than was projected in last April's Monetary Policy Report and the July Update, largely because of a surge in exports. It is now operating near its production capacity and continues to adjust to global economic developments.

The Prime Minister announced today that Mark Carney, Deputy Governor of the Bank of Canada, has been appointed Senior Associate Deputy Minister of Finance, effective 15 November.

The Canadian economy has grown faster than was projected in last April's Monetary Policy Report and the July Update, largely because of a surge in exports. It is now operating near its production capacity and continues to adjust to global economic developments.

The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 2 1/2 per cent. The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 2 3/4 per cent.

The Bank of Canada today unveiled Canada's new $50 bank note, the theme of which is Nation Building: shaping the political, legal, and social structures for democracy and equality. The new note was unveiled at a ceremony in Calgary, Alberta by the Honourable Senator Joyce Fairbairn and David Dodge, Governor of the Bank of Canada.