Media Relations - Latest

• July 15, 2020

  Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues program of quantitative easing

  Media Relations Ottawa, Ontario

  The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent.

  Content Type(s): Press, Press releases
• June 30, 2020

  Bank of Canada partners with the Bank for International Settlements to launch innovation centre

  Media Relations Ottawa, Ontario

  The Bank for International Settlements (BIS) and the Bank of Canada announced today they will be launching a BIS Innovation Hub centre to advance fintech innovation within the central banking community.

  Content Type(s): Press, Press releases Topic(s): Digital currencies and fintech
• June 15, 2020

  Bank of Canada becomes administrator of Canadian Overnight Repo Rate Average

  Media Relations Ottawa, Ontario

  The Bank of Canada is now the administrator of the Canadian Overnight Repo Rate Average (CORRA) and will post today the first rate calculated using an improved methodology.

  Content Type(s): Press, Press releases Source(s): Canadian Alternative Reference Rate Working Group
• June 3, 2020

  Bank of Canada maintains target for the overnight rate, scales back some market operations as financial conditions improve

  Media Relations Ottawa, Ontario

  The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent.

  Content Type(s): Press, Press releases
• May 28, 2020

  Update: Bank of Canada asks retailers to continue accepting cash

  Media Relations Ottawa, Ontario

  During this time of heightened public health measures intended to limit the transmission of COVID-19, some consumers and businesses are choosing not to use cash to limit potential exposure.

  Content Type(s): Press, Announcements
• May 25, 2020

  Risk management approach will help guide policy through unknowable times, Governor Poloz says

  Media Relations Edmonton, Alberta

  A risk management approach to monetary policy will help guide the Bank of Canada’s actions as the economy goes through extreme uncertainty stemming from the COVID-19 pandemic, Governor Stephen S. Poloz said today.

  Content Type(s): Press, Press releases
• May 6, 2020

  The Bank of Canada Releases Its Annual Report for 2019

  Media Relations

  The Bank of Canada’s Annual Report for 2019 was tabled in the House of Commons today.

  Content Type(s): Press, Press releases
• May 1, 2020

  Tiff Macklem Appointed Governor of the Bank of Canada

  Media Relations Ottawa, Ontario

  The Directors of the Bank of Canada, appointed under Section 9 of the Bank of Canada Act, today announced that they have appointed Tiff Macklem as Governor of the Bank of Canada for a seven-year term, effective 3 June 2020.

  Content Type(s): Press, Press releases
• April 15, 2020

  Bank of Canada maintains overnight rate target and unveils new market operations

  Media Relations Ottawa, Ontario

  The Bank of Canada today maintained its target for the overnight rate at ¼ percent, which the Bank considers its effective lower bound. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank also announced new measures to provide additional support to Canada’s financial system.

  Content Type(s): Press, Press releases
• March 27, 2020

  Bank of Canada lowers overnight rate target to ¼ percent

  Media Relations Ottawa, Ontario

  The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. This unscheduled rate decision brings the policy rate to its effective lower bound and is intended to provide support to the Canadian financial system and the economy during the COVID-19 pandemic.

  Content Type(s): Press, Press releases