News

• February 16, 2023

  Our commitment to 2% inflation

  Speech summary Paul Beaudry Alberta School of Business Edmonton, Alberta

  Deputy Governor Paul Beaudry explains why the 2% target remains the centrepiece of the Bank of Canada’s inflation-targeting framework.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Exchange rates, Inflation targets
• February 16, 2023

  Opening Statement before the House of Commons Standing Committee on Finance

  Opening statement Tiff Macklem House of Commons Standing Committee on Finance Ottawa, Ontario

  Content Type(s): Press, Speeches and appearances, Opening statements
• February 8, 2023

  Summary of Governing Council deliberations: Fixed announcement date of January 25, 2023

  This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on January 25, 2023.

  Content Type(s): Publications, Summary of deliberations
• February 7, 2023

  Higher interest rates are working

  Speech summary Tiff Macklem CFA Québec Québec, Québec

  Governor Tiff Macklem explains how the Bank of Canada’s increases to the policy interest rate will cool the economy and bring inflation down.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Domestic demand and components, Exchange rates, Inflation and prices, Interest rates, Monetary policy, Monetary policy transmission, Recent economic and financial developments
• February 6, 2023

  Market Participants Survey—Fourth Quarter of 2022

  The Market Participants Survey results are based on questionnaire responses from about 30 financial market participants.

  Content Type(s): Publications, Market Participants Survey
• February 6, 2023

  University of Alberta crowned National Champion of The Governor’s Challenge

  The Bank of Canada is pleased to announce the University of Alberta has won the eighth annual Governor’s Challenge, a national student competition in which teams simulate the role of advisor to the Bank’s Governing Council.

  Content Type(s): Press, Announcements Source(s): The Governor's Challenge
• January 25, 2023

  Monetary Policy Report Press Conference Opening Statement

  Opening statement Tiff Macklem Ottawa, Ontario

  Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.

  Content Type(s): Press, Speeches and appearances, Opening statements
• January 25, 2023

  Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening

  Media Relations Ottawa, Ontario

  The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%.

  Content Type(s): Press, Press releases
• January 25, 2023

  Monetary Policy Report – January 2023

  

  Inflation in Canada is still too high but has declined from its peak. As the effects of higher interest rates continue to spread through the economy, and with declines in energy prices and improved supply chains, inflation is projected to fall to around 3% in the middle of 2023 and reach the 2% target in 2024.

  Content Type(s): Publications, Monetary Policy Report
• January 16, 2023

  Bank of Canada announces appointment of non-executive Deputy Governor

  Media Relations Ottawa, Ontario

  The Board of Directors of the Bank of Canada today announced the appointment of Nicolas Vincent as the Bank’s new external, non-executive Deputy Governor for a term of two years, effective March 13, 2023.

  Content Type(s): Press, Press releases