The Bank of Canada announced today the names of three external experts who will provide an independent assessment of its review of exceptional policy actions taken during the COVID-19 pandemic.
The Bank of Canada today published its 2025 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report. It also reconfirmed the scheduled interest rate announcement dates for the remainder of this year.
The results of the second-quarter 2024 Market Participants Survey, conducted from June 19 to 28, are based on questionnaire responses from approximately 30 financial market participants. The survey offers insights into various economic forecasts and perceptions.
Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss the July Monetary Policy Report (MPR) and today’s policy announcement.
The Bank of Canada has reduced its target for the overnight rate by 25 basis points to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The central bank continues its policy of balance sheet normalization.
Monetary policy is working to reduce price pressures in the Canadian economy. Core inflation is expected to ease gradually, while the path of CPI inflation will be bumpy. Inflation returns sustainably to the 2% target in the second half of 2025.
The Canadian Survey of Consumer Expectations for the second quarter of 2024 was conducted through an online panel from April 26 to May 15, with follow-up phone interviews taking place from May 14 to May 23. The survey results indicate that consumers' perceptions of inflation remain unchanged from the previous quarter, but their expectations for inflation over the next 12 months have declined significantly. Despite this improvement, both measures are still higher than pre-pandemic levels.
The Business Outlook Survey for the second quarter of 2024, conducted by in-person, video, and phone interviews from May 9 to 29, reveals that firms' sales outlooks remain mostly unchanged from the previous quarter and continue to be more pessimistic than average. Businesses tied to discretionary spending report particularly weak sales expectations, while those associated with essential spending see population growth benefiting their sales.
Governor Tiff Macklem addressed the Winnipeg Chamber of Commerce, discussing the labour market's adjustment to higher interest rates and slower economic growth. He emphasized the importance of a strong, inclusive labour market for long-term growth.
Deputy Governor Sharon Kozicki emphasized the importance of central bank transparency and accountability in a recent address to the Canadian Association for Business Economics. She reviewed the Bank of Canada's exceptional monetary policy measures during the COVID-19 pandemic and analyzed their effectiveness.
Good afternoon. It’s always great to be back in Montréal, my hometown. And I could not be more pleased to be here with Joachim Nagel, President of the Deutsche Bundesbank. Thank you for visiting us in Canada.
On June 5, 2024, a press conference was held to discuss the latest monetary policy decision. Senior Deputy Governor Carolyn Rogers joined the discussion.
The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization.
Executive Director of Payments, Supervision and Oversight Ron Morrow recently addressed the evolution of payment systems in Canada at the Payments Canada SUMMIT in Toronto. Morrow emphasized the need to modernize Canada's payment infrastructure amidst increasing digitalization.
The Bank of Canada Museum has announced the recipients of its third annual Award for Excellence in Teaching Economics. This year, the honours go to two exceptional educators: Philippe Bélanger-Leroux from École secondaire Toronto Ouest in Toronto, Ontario, and Kimberly Orr from St. George’s School in Vancouver, British Columbia.
Good morning. Senior Deputy Governor Carolyn Rogers and I are here to discuss the Bank of Canada’s Financial Stability Report (FSR). The Bank's mandate includes preserving and promoting the stability of the Canadian financial system. A stable and resilient financial system allows people to access credit and manage their assets safely and predictably, reducing the need for authorities to intervene during periods of financial stress. A stable financial system is critical to Canada’s economic well-being.
On the first anniversary of the coronation of His Majesty King Charles III, the Bank of Canada issued a progress update on designing a new $20 bank note.
"The Bank of Canada’s Annual Report for 2023 was tabled in the House of Commons yesterday. The report evaluates how the physical effects of climate change and potential disruptions from the transition to a low-carbon economy could impact the Bank’s ability to deliver on its core functions. It outlines what the Bank is doing to manage these risks, including risks to its balance sheet and pension fund, and to reduce the carbon footprint of its operations. For more information, please contact Media Relations."The Bank of Canada released its 2023 Annual Report and Report on...
Bank of Canada Governor made an opening statement before the House of Commons Standing Committee on Finance on May 2, 2024, alongside Senior Deputy Governor Carolyn Rogers. He began by highlighting the recent policy announcement and the Bank of Canada's Monetary Policy Report.Governor indicated, "Monetary policy is working. Total consumer price index (CPI) and core inflation have eased further in recent months, and we expect inflation to continue to move closer to the 2% target this year." He also mentioned that the economy looks to be picking up, with GDP growth expected...
The Bank of Canada's Senior Deputy Governor and Governor recently addressed the Standing Senate Committee on Banking, Commerce, and the Economy, discussing the country's economic landscape and monetary policy stance.In the opening statement, the Governor expressed pleasure in discussing the recent policy announcement and the Monetary Policy Report alongside Senior Deputy Governor Carolyn Rogers. The Governor highlighted three key messages, emphasizing the effectiveness of monetary policy in easing inflation and supporting economic growth. The forecast indicates solid GDP...