Press releases

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements.

Today, Minister of Finance Bill Morneau, Governor of the Bank of Canada Stephen Poloz, and Superintendent of Financial Institutions Jeremy Rudin outlined a coordinated package of measures being taken by financial sector partners to support the functioning of markets and continued access to financing for Canadian businesses.

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.

The independent Advisory Council will develop a short list of iconic Canadians who could be featured on the next bank note.

The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 ¼ percent. The Bank Rate is correspondingly 1 ½ percent and the deposit rate is 1 percent.

We, G7 Finance Ministers and Central Bank Governors, are closely monitoring the spread of the coronavirus disease 2019 (COVID-19) and its impact on markets and economic conditions.

The Bank of Canada is pleased to announce the 2019-2020 recipients of its scholarship awards for women, Indigenous students and students with disabilities.

The Bank of Canada will take over the responsibility for publishing the Canadian Overnight Repo Rate Average (CORRA), effective Monday, June 15, 2020.

The University of British Columbia has won the Bank of Canada’s fifth annual Governor’s Challenge, a national student competition in which teams simulate the role of advisor to the Bank’s Governing Council.

In remarks to the Economic Club of Canada, Senior Deputy Governor Carolyn A. Wilkins said aging populations and weak productivity gains are holding back prospects in many advanced economies, including Canada’s.