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March 13, 2020

Bank of Canada lowers overnight rate target to ¾ percent

The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¾ percent, effective Monday, March 16, 2020. The Bank Rate is correspondingly 1 percent and the deposit rate is ½ percent. This unscheduled rate decision is a proactive measure taken in light of the negative shocks to Canada’s economy arising from the COVID-19 pandemic and the recent sharp drop in oil prices.
Content Type(s): Press, Press releases
March 5, 2020

Labour market is key to Canada’s resilience

Speech summary Stephen S. Poloz Women in Capital Markets Toronto, Ontario
Governor Stephen S. Poloz talks about how the labour market is a key source of resilience for Canada’s economy and reviews the Bank of Canada’s decision to lower interest rates. 
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