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 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 […]

Bank of Canada Interest Rate Announcement

Bank of Canada Interest Rate Announcement

September 4, 2019 OTTAWA — On Wednesday, September 4, 2019, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. Time 10:00 (Eastern Time) Lock-Up At 08:30 (ET), journalists are invited to review the rate announcement press release, under […]

Bank of Canada publishes its 2020 schedule for policy interest rate announcements, the release of the Monetary Policy Report and other major publications

Bank of Canada publishes its 2020 schedule for policy interest rate announcements, the release of the Monetary Policy Report and other major publications

The Bank of Canada today published its 2020 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report and reconfirmed the scheduled interest rate announcement dates for the remainder of this year. The Bank also published its schedule for the release of the Financial System Review and the winter through […]

Bank of Canada to become the administrator of key interest rate benchmark

Bank of Canada to become the administrator of key interest rate benchmark

The Bank of Canada today announced its intention to become the administrator of the Canadian Overnight Repo Rate Average (CORRA), a key interest rate benchmark for financial markets. The Bank will take over this role from the current administrator, Refinitiv, when enhancements to CORRA take effect next year. The Bank will provide the rate as […]

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. Evidence has been accumulating that ongoing trade tensions are having a material effect on the global economic outlook. The Bank had already incorporated such negative effects […]

Announcement on Canada’s Overnight Interest Rate Benchmark

Announcement on Canada’s Overnight Interest Rate Benchmark

July 16, 2019  OTTAWA – On Tuesday, July 16, 2019, the Bank of Canada will provide an update on the Canadian Alternative Reference Rate Working Group’s work to strengthen the Canadian Overnight Repo Rate Average (CORRA), an important benchmark for Canadian dollar financial markets.   Time 10:00 (Eastern Time) Place At 8:30 (ET), journalists are […]

The Merits of a Floating Exchange Rate

The Merits of a Floating Exchange Rate

The benefits of our floating dollar Canada and many other open economies have been well served by a market-determined flexible exchange rate. The floating dollar has four main benefits. Monetary policy independence Open, trading economies like Canada’s are exposed to global economic storms. A flexible exchange rate gives us the flexibility to set our own […]

Bank of Canada maintains overnight rate target at 1 ¾ per cent

Bank of Canada maintains overnight rate target at 1 ¾ per cent

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. Recent Canadian economic data are in line with the projections in the Bank’s April Monetary Policy Report (MPR), with accumulating evidence that the […]

Bank of Canada maintains overnight rate target at 1 ¾ per cent

Bank of Canada maintains overnight rate target at 1 ¾ per cent

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. Global economic growth has slowed by more than the Bank forecast in its January Monetary Policy Report (MPR). Ongoing uncertainty related to trade […]

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