March 20, 2020
News
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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 18, 2020
Press Conference Opening Statement – March 18, 2020
The Bank of Canada has been working hard to ensure the financial system has sufficient liquidity so that credit continues to be available to businesses and households. -
March 17, 2020
Summary of Deliberations of Governing Council, March 13, 2020
Governing Council’s decision to cut interest rates on Friday, 13 March, 2020 took place under unique circumstances. As such, Governing Council is offering this statement of its reasoning from the decision of March 13. -
March 15, 2020
Coordinated Central Bank Action to Enhance the Provision of Global U.S. Dollar Liquidity
The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements. -
March 13, 2020
Canada outlines measures to support the economy and the financial sector
Today, Minister of Finance Bill Morneau, Governor of the Bank of Canada Stephen Poloz, and Superintendent of Financial Institutions Jeremy Rudin outlined a coordinated package of measures being taken by financial sector partners to support the functioning of markets and continued access to financing for Canadian businesses. -
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 13, 2020
Press Conference Opening Statement – March 13, 2020
The Bank of Canada is contributing to the collective effort to support the Canadian economy and financial system, and to ensure credit channels remain open. -
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 6, 2020
Evaluating our approach to monetary policy
Inflation targeting has been successful in Canada over the past 30 years. But is it the best we can do? The Bank of Canada asks itself, and Canadians, that question every five years.