News

Minister of Finance Bill Morneau and Governor Stephen S. Poloz today announced that the Bank of Canada is launching public consultations to select an iconic Canadian to appear on the next $5 bank note.

Governor Stephen S. Poloz discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 ½ percent.

The Bank projects that growth in the Canadian economy will accelerate from 1.6 percent this year to 2 percent in 2021.

The Bank of Canada announces it is creating a working group with five other central banks and the Bank for International Settlements to assess the potential cases for central bank digital currencies.