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 26, 2020 Opening Statement before the Senate National Finance Committee Opening statement Stephen S. Poloz Senate National Finance Committee Ottawa, Ontario Good afternoon, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I welcome the opportunity to appear before you to discuss the Bank of Canada’s actions in response to the coronavirus pandemic. Since the pandemic began, the Bank has had two goals in mind. In the short term, we have been working to help […] Content Type(s): Press, Speeches and appearances, Opening statements Research Topic(s): Coronavirus disease (COVID-19), Financial stability, Monetary policy, Monetary policy transmission, Recent economic and financial developments
May 14, 2020 Release of the Financial System Review Opening statement Stephen S. Poloz Ottawa, Ontario Press conference following the release of the Financial System Review. Content Type(s): Press, Speeches and appearances, Opening statements Research Topic(s): Credit and credit aggregates, Financial markets, Financial stability, Financial system regulation and policies, Recent economic and financial developments
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
May 1, 2020 Statement by Governor Poloz on Announcement of New Governor Opening statement Stephen S. Poloz Ottawa, Ontario Governor Stephen S. Poloz offers sincere best wishes to new Governor Tiff Macklem on a successful term Content Type(s): Press, Speeches and appearances, Opening statements
May 1, 2020 Statement by Claire Kennedy on Announcement of New Governor Opening statement Claire M. C. Kennedy Ottawa, Ontario Lead Director Claire Kennedy congratulates Tiff Macklem on being selected as the 10th Governor of the Bank of Canada and thanks Stephen Poloz for his service. Content Type(s): Press, Speeches and appearances, Opening statements
May 1, 2020 Statement by Tiff Macklem on his announcement as New Governor Opening statement Tiff Macklem Ottawa, Ontario Governor-designate Tiff Macklem applauds Stephen Poloz’s leadership of the Bank and explains how much he looks forward to returning to the Bank as its next Governor. Content Type(s): Press, Speeches and appearances, Opening statements
April 16, 2020 Opening Statement before the House of Commons Standing Committee on Finance Opening statement Stephen S. Poloz House of Commons Standing Committee on Finance Ottawa, Ontario Good afternoon, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I welcome the opportunity to appear before you to discuss the Bank’s policy actions in response to the coronavirus pandemic, as well as our Monetary Policy Report (MPR), which we published yesterday. The Canadian economy is experiencing a significant and rapid contraction. The […] Content Type(s): Press, Speeches and appearances, Opening statements Research Topic(s): Coronavirus disease (COVID-19), Inflation and prices, Monetary policy, Monetary policy transmission, Recent economic and financial developments