May 1, 2020
Media Relations - Latest
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April 15, 2020
Bank of Canada maintains overnight rate target and unveils new market operations
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. -
March 27, 2020
Bank of Canada lowers overnight rate target to ¼ percent
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. -
March 18, 2020
Bank of Canada employees to work remotely
The Bank of Canada today announced that it has completed arrangements for all employees to telework until further notice to protect the health of our staff and reduce the risk of transmission of COVID-19. -
March 13, 2020
Bank of Canada lowers overnight rate target to ¾ percent
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. -
March 9, 2020
Bank of Canada announces members of Advisory Council for next $5 bank note
The independent Advisory Council will develop a short list of iconic Canadians who could be featured on the next bank note. -
March 4, 2020
Bank of Canada lowers overnight rate target to 1 ¼ percent
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. -
March 3, 2020
Statement of G7 Finance Ministers and Central Bank Governors
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. -
February 19, 2020
Bank of Canada Announces Scholarship Recipients
The Bank of Canada is pleased to announce the 2019-2020 recipients of its scholarship awards for women, Indigenous students and students with disabilities. -
February 18, 2020
Bank of Canada to begin publishing Canadian Overnight Repo Rate Average in June
The Bank of Canada will take over the responsibility for publishing the Canadian Overnight Repo Rate Average (CORRA), effective Monday, June 15, 2020.