News

The Board of Directors of the Bank of Canada today announced the appointment of Toni Gravelle as Deputy Governor, effective October 1, 2019. The Bank also today announced that Mark Hardisty will join the Bank as Special Advisor to the Governor for a two-year term beginning November 6, 2019.

During the month of April, the Bank of Canada and 51 other central banks and monetary authorities conducted the latest survey of turnover activity in the foreign exchange and over-the-counter (OTC) derivatives markets in their respective countries. This worldwide effort was coordinated by the Bank for International Settlements (BIS) and is undertaken every three years.

The Bank of Canada is inviting Canadian universities to nominate exceptional academics for its 2020 Fellowship and Governor’s awards.

Speaking a day after we decided to hold interest rates steady, Deputy Governor Lawrence Schembri discussed the key points Governing Council considered in their decision.

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.