Bank of Canada (BoC)


BoC Interest Rate Decision

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BOC event related news

BOC event related analysis


July BoC meeting review

Bank of Canada leaves policy rate unchanged at 1.75% as expected

In a widely expected decision, the Bank of Canada announced that it left the policy rate steady at 1.75% at its July policy meeting. With the initial market reaction, the USD/CAD pair erased the losses it suffered after the FOMC published Chairman Powell's prepared remarks. As of writing, the pair was up 0.15% on the day at 1.3145. Below are some key takeaways from the BoC's policy statement, as reported by Reuters.

May BoC meeting reviews

BoC to stay on hold

The trend in USD/CAD has been quite dull since last month Fed meeting. The pair has remained within the range of 1.35 – 1.34 (+0.40% month-to-date) despite acceleration in trade war headlines. Yet the trend is about to change as today’s Bank of Canada monetary policy meeting, although not showing major changes in forward guidance, should benefit the greenback.

BoC: Expect a 25bp cut at the April 2020 meeting - Rabobank

According to Christian Lawrence, senior FX strategist at Rabobank, the Bank (BoC) had already shifted to the dovish side but the tone of the accompanying statement was a little more optimistic than the April meeting. "We have been at pains to stress that the slowdown will continue with households being squeezed and investment and trade..."


April BoC meeting review

BoC to leave rates unchanged today - TDS

Analysts at TD Securities are looking for the Bank of Canada to leave rates unchanged at 1.75%, in line with all private sector forecasts, leaving the focus on updated economic projections and tweaks to the policy statement. For the former, we expect the Bank to formally drop its bias towards higher rates by noting that future moves (not hikes) will be subject to increased uncertainty while updated forecasts should...


February BoC meeting review

BOC unchanged – Loonie at 1.3440

BoC held rates steady at 1.75%, matching widespread expectations. The bank watered down its commitment to normalization, saying “Governing Council judges that the outlook continues to warrant a policy interest rate that is below its neutral range.


January BoC meeting review

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Big Picture

What is the BOC?

The Bank of Canada is the nation's central bank. Its principal role is "to promote the economic and financial welfare of Canada," as defined in the Bank of Canada Act. The Bank’s four main areas of responsibility are:

  • Monetary policy: The Bank influences the supply of money circulating in the economy, using its monetary policy framework to keep inflation low and stable.
  • Financial system: The Bank promotes safe, sound and efficient financial systems, within Canada and internationally, and conducts transactions in financial markets in support of these objectives.
  • Currency: The Bank designs, issues and distributes Canada’s bank notes.
  • Funds management: The Bank is the "fiscal agent" for the Government of Canada, managing its public debt programs and foreign exchange reserves.

The official website, on Twitter and YouTube

Who is BOC's president?

Stephen S. Poloz was born in Oshawa, Ontario, in 1956. He was appointed Governor of the Bank of Canada, effective 3 June 2013, for a term of seven years. He is the ninth Governor of the Bank of Canada. As Governor, he is also Chairman of the Board of Directors of the Bank and a member of the Board of Directors of the Bank for International Settlements (BIS). He currently chairs both the BIS Audit Committee and the Consultative Council for the Americas.

Stephen Poloz

Poloz

Interest rates latest news

the world interest rates table

The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.


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