November 19, 2020 Reminder: Changes to legal tender status will take effect in 2021 Media Relations Ottawa, Ontario In accordance with amendments to the Bank of Canada Act and the Currency Act approved by Parliament in 2018, the federal government will remove legal tender status from some older bank notes as of January 1, 2021. Content Type(s): Press, Press releases
November 16, 2020 Bank of Canada and OSFI launch pilot project on climate risk scenarios Media Relations Ottawa, Ontario The Bank of Canada and the Office of the Superintendent of Financial Institutions (OSFI) today announced plans for a pilot project to use climate-change scenarios to better understand the risks to the financial system related to a transition to a low-carbon economy. Content Type(s): Press, Press releases
November 9, 2020 Bank of Canada announces short list for next $5 bank note Media Relations Ottawa, Ontario The Bank of Canada today announced that the independent Advisory Council has selected a short list of eight iconic Canadians who could be featured on the next $5 bank note. Content Type(s): Press, Press releases Topic(s): Bank notes
November 5, 2020 Bank of Canada Senior Deputy Governor Carolyn A. Wilkins to leave the Bank in December Media Relations Ottawa, Ontario Senior Deputy Governor Carolyn A. Wilkins has informed the Bank’s Board of Directors that her last day at the Bank will be December 9, 2020. Content Type(s): Press, Press releases
October 28, 2020 Bank of Canada will maintain current level of policy rate until inflation objective is achieved, recalibrates its quantitative easing program Media Relations Ottawa, Ontario The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. Content Type(s): Press, Press releases
October 9, 2020 Central banks and BIS publish first central bank digital currency (CBDC) report laying out key requirements Media Relations Ottawa, Ontario This joint press release announces the publication of a report identifying the foundational principles necessary for any publicly available central bank digital currencies to help central banks meet their public policy objectives. Content Type(s): Press, Press releases Topic(s): Digital currencies and fintech
September 17, 2020 Bank of Canada Senior Deputy Governor Carolyn A. Wilkins will not seek second term Media Relations Ottawa, Ontario The Board of Directors of the Bank of Canada announced today that Senior Deputy Governor Carolyn A. Wilkins informed them that she will not seek a second term. Content Type(s): Press, Press releases
September 9, 2020 Bank of Canada maintains commitment to current level of policy rate, 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. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank is also continuing its quantitative easing (QE) program, with large-scale asset purchases of at least $5 billion per week of Government of Canada bonds. Content Type(s): Press, Press releases
August 24, 2020 Bank of Canada launches public consultation on inflation targeting Media Relations Ottawa, Ontario The Bank of Canada today launched an online public consultation to gather Canadians’ views on the Bank’s approach to monetary policy. The “Let’s Talk Inflation” campaign is part of an effort to reach out to all Canadians before the Bank renews its agreement with the federal government on the monetary policy framework in 2021. Content Type(s): Press, Press releases
August 10, 2020 Bank of Canada designates Interac e‑Transfer as a prominent payment system Media Relations Ottawa, Ontario Bank of Canada Governor Tiff Macklem has designated Interac e‑Transfer® as a prominent payment system under the Payment Clearing and Settlement Act, effective August 10, 2020. This brings Bank oversight to this payment system and ensures it remains a safe, viable and effective method of payment for Canadians. Content Type(s): Press, Press releases