Bank of Canada (BoC)


BoC maintains its current monetary policy unchanged at 0.25%

BOC'S MONETARY STIMULUS

Canada: BoC makes a needed QE recalibration NFB

The Bank of Canada kept interest rates unchanged as expected at 0.25% on Thursday and recalibrate its purchase program. Analysts at the National Bank of Canada point the shift in QE was needed change to us it was proving too large for parts of the Canadian bond market.

BOC event related news

BOC event related analysis


October BoC meeting review

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

In a widely expected decision, the Bank of Canada (BoC) announced on Wednesday that it left its key rate unchanged at 0.25% following its October policy meeting. In its policy statement, the BoC noted that there is an ongoing and significant slack in the Canadian economy and added that the gap between the actual and potential output is not expected to close until 2023.


September BoC meeting review

Bank of Canada leaves policy rate unchanged at 0.25%

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

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.

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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.