News

• March 27, 2020

  Bank of Canada lowers overnight rate target to ¼ percent

  Media Relations Ottawa, Ontario

  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.

  Content Type(s): Press, Press releases
• March 24, 2020

  COVID-19: Actions to Support the Economy and Financial System

  Learn about the economic impact of the COVID-19 pandemic and the Bank’s actions to support the Canadian economy and financial system.

  Content Type(s): Press, Announcements
• March 24, 2020

  Statement of G7 Finance Ministers and Central Bank Governors

  Consistent with the direction from G7 Leaders, we are taking action and enhancing coordination on our dynamic domestic and international policy efforts to respond to the global health, economic, and financial impacts associated with the spread of the coronavirus disease 2019 (COVID-19).

  Content Type(s): Press, Announcements
• March 23, 2020

  2020 Fellowship Program Award Recipients

  Learn about the 2020 recipients of the Fellowship and Governor’s Awards.

  Content Type(s): Press, Announcements Source(s): Fellowship Program
• March 20, 2020

  Coordinated Central Bank Action to Further Enhance the Provision of 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 further enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements.

  Content Type(s): Press, Announcements
• March 18, 2020

  Bank of Canada employees to work remotely

  Media Relations Ottawa, Ontario

  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.

  Content Type(s): Press, Announcements
• March 18, 2020

  Press Conference Opening Statement – March 18, 2020

  Opening statement Stephen S. Poloz Ottawa, Ontario

  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.

  Content Type(s): Press, Speeches and appearances, Opening statements Topic(s): Coronavirus disease (COVID-19)
• 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.

  Content Type(s): Press, Press releases
• 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.

  Content Type(s): Press, Press releases
• 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.

  Content Type(s): Press, Press releases