News

The Board of Directors of the Bank of Canada announced today that Senior Deputy Governor Carolyn A. Wilkins informed them that she will not seek a second term.

Governor Tiff Macklem outlines how the COVID-19 recession has had an uneven impact on Canadians and discusses the Bank’s decision yesterday to leave the policy rate unchanged.

The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank is also continuing its quantitative easing (QE) program, with large-scale asset purchases of at least $5 billion per week of Government of Canada bonds.

The Bank of Canada is inviting Canadian universities to nominate exceptional academics for its 2021 Fellowship and Governor’s awards.

Governor Tiff Macklem talks about the need for the Bank to be clear, relatable and understandable when it communicates with the public.