Bank of Canada (BoC)

BoC Interest Rate Decision

BOC event related news

BOC event related analysis

July BoC meeting review

BOC Quick Analysis: Hiking and promising more, but tremendously troubled by trade

Yohay Elam
FXStreet

The Bank of Canada hiked the Overnight Rate from 1.25% to 1.50%. They cited a growing economy, a housing market that has stabilized and an upbeat forecast for inflation which is projected to rise to target by the second half of 2019. Most importantly, the Ottawa based institution maintained its bullish bias by saying that "expects that higher interest rates will be warranted to keep inflation near target" in the last paragraph of the statement. The approach will remain gradual and the BOC stated itis data dependent, but that is not news.

BoC: press conference was more dovish than the statement - Rabobank

By Ross J Burland |

The Bank maintained a cautious tone while highlighting its data dependency, that said, this was not the ‘dovish’ hike many, including ourselves, expected. Headline data may be relatively upbeat but a scratch below the surface unveils a very different picture with consumers being squeezed by higher debt servicing costs and rising cost-push inflation, while we see the outlook for trade and investment as uncertain at best.

BoC: Pace of hikes to slow on trade risks - Wells Fargo

By Matías Salord |

For a fourth time in the past year, the BoC hiked rates 25 bps, bringing the overnight lending rate to 1.50 percent. Markets widely expected the move, given firming inflation and other signs of an economy close to capacity. Core measures of inflation are near the middle of the BoC’s target range and headed higher. A weaker Canadian dollar, which has fallen in the wake of trade concerns, and new tariffs on U.S. imports will add upward pressure to inflation, along with growing capacity constraints.

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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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