News

Overall household lending conditions were unchanged this quarter, although mortgage approval rates were lower. More widespread easing of business lending conditions continues to be driven by competition for corporate borrowers.

Governor Poloz talks about how household debt levels and housing markets played a role in the latest interest-rate decision.

In his final speech of 2018, Governor Stephen S. Poloz discusses the vulnerabilities and risks in Canada’s financial system as well as Canadian and global economic developments. He explains how all this was taken into account in the December interest rate decision.

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

The Board of Directors of the Bank of Canada today announced the appointment of Paul Beaudry as Deputy Governor, effective February 18, 2019.