News

• November 9, 2023

  Getting used to higher interest rates

  Speech summary Carolyn Rogers Advocis Vancouver Vancouver, British Columbia

  Senior Deputy Governor Carolyn Rogers talks about why interest rates could settle at a higher level than Canadians are used to and why preparing early for that possible outcome is important.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Credit risk management, Financial institutions, Financial markets, Financial stability, Firm dynamics, Interest rates, Monetary and financial indicators, Recent economic and financial developments
• November 8, 2023

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

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

  Content Type(s): Publications, Summary of deliberations
• November 6, 2023

  Market Participants Survey—Third Quarter of 2023

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

  Content Type(s): Publications, Market Participants Survey
• November 1, 2023

  Opening Statement before the Standing Senate Committee on Banking, Commerce and the Economy

  Opening statement Tiff Macklem Standing Senate Committee on Banking, Commerce and the Economy Ottawa, Ontario

  Content Type(s): Press, Speeches and appearances, Opening statements
• October 30, 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
• October 26, 2023

  Bank of Canada announces appointment of Nick Leswick as Executive Director of Policy

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that Nick Leswick has been appointed to the new role of Executive Director of Policy, effective January 9, 2024.

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

  Bank of Canada maintains policy rate, continues quantitative tightening

  Media Relations Ottawa, Ontario

  The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%.

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

  Monetary Policy Report – October 2023

  

  Higher interest rates are working to ease price pressures in Canada and inflation is coming down, though progress to the 2% target is slow. The Bank projects that inflation will stay around 3½% until the middle of 2024, returning to target in 2025.

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

  Business Outlook Survey—Third Quarter of 2023

  Results from the Business Outlook Survey for the third quarter of 2023, along with those from the July, August and September 2023 Business Leaders’ Pulse surveys suggest that on balance, firms are still planning to make larger and more frequent price increases than they did before the COVID-19 pandemic. Further, businesses' outlook for demand has continued to weaken as higher interest rates impact the economy.

  Content Type(s): Publications, Business Outlook Survey