Bank of Canada (BoC)

BoC’s likely to maintain its current monetary policy unchanged

BOC'S MONETARY STIMULUS

BoC's Macklem: Ready to adjust short-term liquidity facilities as market conditions warrant

By Eren Sengezer |

COVID-19 pandemic may accelerate some global forces that could make growth less inclusive, Bank of Canada Governor Tiff Macklem told a business audience by videoconference, per Reuters.COVID-19 pandemic may accelerate some global forces that could make growth less inclusive, Bank of Canada Governor Tiff Macklem told a business audience by videoconference, per Reuters. Additional takeaways: "Very uneven recessions tend to be longer and have a larger impact on the labor market; uneven outcomes for some can lead to poorer outcomes for all."

BOC event related news

BOC event related analysis

September BoC meeting review

Bank of Canada leaves policy rate unchanged at 0.25%

By Eren Sengezer |

In a widely expected decision, the Bank of Canada (BoC) on Wednesday announced that it left its key rate unchanged at 0.25% at its September policy meeting. In its policy statement, the BoC reiterated that the economy will continue to require extraordinary monetary policy support.

July BoC meeting review

Bank of Canada leaves policy rate unchanged at 0.25% as expected

By Eren Sengezer |

In a widely expected decision, the Bank of Canada (BoC) on Wednesday announced that it left its key rate unchanged at 0.25% at its June policy meeting. In its rate statement, the BoC noted that its central scenario doesn't expect the Canadian economy to return to pre-COVID-19 levels until 2022.

June BoC meeting review

Bank of Canada sends USD/CAD lower by rejecting negative rates, scaling back operations

By Yohay Elam |

The Bank of Canada has left its interest rate unchanged at 0.25% as expected. The Ottawa-based institution also stressed that those current borrowing costs are the effective lower bound and that negative rates are not under active consideration. Moreover, the BOC has stated it is scaling back some of its market operations after announcing bond-buying back in March, at the peak of the financial distress related to coronavirus.

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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?

Tiff Macklem was born in Montréal, Quebec, in 1961. He was appointed Governor of the Bank of Canada, effective 3 June 2020, for a seven-year term. He is the tenth governor of the Bank of Canada. As Governor, he is also Chairman 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.

Tiff Macklem

Poloz

Macklem on his BOC's profile and Wikipedia

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.