Bank of Canada Governor Stephen S. Poloz to step down in June 2020

Bank of Canada Governor Stephen S. Poloz to step down in June 2020

The Board of Directors of the Bank of Canada announced today that Governor Stephen S. Poloz has informed them that he will not seek a second term as Governor when his seven-year term expires on June 2, 2020. The Board has begun a search process to select the next Governor of the Bank.  “It has […]

Bank of Canada announces finalists for the fifth annual Governor’s Challenge

Bank of Canada announces finalists for the fifth annual Governor’s Challenge

The Bank of Canada has announced the five finalist teams in the 2019-20 edition of The Governor’s Challenge, a competition where university students simulate the role of advisor to the Bank’s Governing Council. Congratulations to: University of British Columbia, coached by Jonathan Graves and Michael Devereux University of Calgary, coached by Paul Serletis Lakehead University, […]

Bank of Canada maintains overnight rate target at 1 ¾ percent

Bank of Canada maintains overnight rate target at 1 ¾ percent

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 ½ percent. The outlook for the global economy has weakened further since the Bank’s July Monetary Policy Report (MPR). Ongoing trade conflicts and uncertainty are restraining business investment, […]

Bank of Canada announces the launch of the 2020 Fellowship Program awards

Bank of Canada announces the launch of the 2020 Fellowship Program awards

Purpose The Fellowship Program is designed to encourage and foster excellence in research that relates to the Bank’s core functions. It promotes collaboration and partnerships between Bank researchers and leading academics at Canadian post-secondary institutions. It also contributes to the education and development of Canada’s researchers in fields related to the Bank’s core functions. See […]

Bank of Canada announces Deputy Governor and Special Advisor appointments

Bank of Canada announces Deputy Governor and Special Advisor appointments

The Board of Directors of the Bank of Canada today announced the appointment of Toni Gravelle as Deputy Governor, effective October 1, 2019. Mr. Gravelle’s appointment fills the vacancy created by the retirement of Lynn Patterson in July 2019. As Deputy Governor, Mr. Gravelle will join the Bank’s Governing Council, which sets the strategic direction of the […]

Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity in Canada during April 2019

Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity in Canada during April 2019

In April, the Bank of Canada and 52 other central banks and monetary authorities conducted the latest triennial survey of turnover activity in the foreign exchange (FX) and over-the-counter (OTC) derivatives markets in their respective countries. This worldwide effort was coordinated by the Bank for International Settlements (BIS) to obtain global, comprehensive and consistent information […]

Bank of Canada maintains overnight rate target at 1 ¾ percent

Bank of Canada maintains overnight rate target at 1 ¾ percent

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 ½ percent. As the US-China trade conflict has escalated, world trade has contracted and business investment has weakened. This is weighing more heavily on global economic momentum than […]

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