Bank of Canada

The Bank of Canada (BoC), known in French as Banque du Canada, is a Crown corporation serving as the central bank of Canada. Established in 1934 through the Bank of Canada Act, its main roles include developing the country's monetary policy and ensuring a stable financial system in Canada. The Bank of Canada is the only entity authorized to issue Canadian banknotes, and it also offers banking services and manages funds for the government. Additionally, it provides loans to Canadian financial institutions. Since 1935, the Canadian Bank Note Company has been responsible for producing these banknotes.

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Tariffs and trade uncertainty are hurting the Canadian economy - Bank of Canada

1 month ago | bankofcanada.ca

Governor Tiff Macklem discusses how uncertainty about the trade war with the United States has shaken businesses and consumer confidence. He also reiterates that the Bank of Canada must ensure that high prices from tariffs do not lead to ongoing inflation.
Trade conflict: What can the Bank of Canada do? - Bank of Canada

2 months ago | bankofcanada.ca

Governor Tiff Macklem discusses how a trade conflict would affect the Canadian economy and monetary policy. He also outlines what the Bank of Canada is focusing on as it renews its monetary policy framework.
Press Conference Opening Statement to come at 9:45 (ET)

Jan 29, 2025 | bankofcanada.ca | Tiff Macklem

FR Opening statement Content Type(s): Press, Speeches and appearances, Opening statements
Opening Statement before the Senate Standing Committee on Banking, Commerce and the Economy

Oct 30, 2024 | bankofcanada.ca | Tiff Macklem

Opening statement Senate Standing Committee on Banking, Commerce and the Economy Available as: PDF Good afternoon. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss our recent policy announcement and the Bank of Canada’s Monetary Policy Report. Last week, we lowered the policy interest rate by 50 basis points. It was our fourth consecutive decrease since June and brings our policy rate to 3.75%.
Opening Statement before the House of Commons Standing Committee on Finance

Oct 29, 2024 | bankofcanada.ca | Tiff Macklem

Opening statement House of Commons Standing Committee on Finance Available as: PDF Good afternoon. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss our recent policy announcement and the Bank of Canada’s Monetary Policy Report. Last week, we lowered the policy interest rate by 50 basis points. It was our fourth consecutive decrease since June and brings our policy rate to 3.75%.
Does Unconventional Monetary and Fiscal Policy Contribute to the COVID Inflation Surge in the US?

Oct 24, 2024 | bankofcanada.ca | Jing Cynthia Wu

Staff Working Paper 2024-38 (English) Available as: PDF We assess whether unconventional monetary and fiscal policy implemented in response to the COVID-19 pandemic in the U.S. contribute to the 2021-2023 inflation surge through the lens of several different empirical methodologies—event studies, vector autoregressions, and regional panel regressions using granular data—and establish a null result.
Press Conference Opening Statement to come at 9:45 (ET)

Oct 23, 2024 | bankofcanada.ca | Tiff Macklem

FR Opening statement Content Type(s): Press, Speeches and appearances, Opening statements
Economic growth during uncertain times

Sep 24, 2024 | bankofcanada.ca | Tiff Macklem

Remarks IIF-CBA Forum Available as: PDF Good afternoon. I want to thank the Institute of International Finance and the Canadian Bankers Association for inviting me to take part in your 2024 Forum. Your focus on growth during uncertainty is timely. Uncertainty feels like the new reality: The uncertainty caused by war in Europe and in the Middle East. The uncertainties arising from geopolitical tensions and economic fragmentation.
Artificial intelligence, the economy and central banking

Sep 20, 2024 | bankofcanada.ca | Tiff Macklem

Remarks National Bureau of Economic Research, Economics of Artificial Intelligence Conference Available as: PDF Introduction Around the world, digitalization is pulling economies in new directions. Artificial intelligence (AI)—and particularly its offspring, generative AI (GenAI)—are accelerating this pull. It’s still early days, but AI is already disrupting existing industries and creating new ones.
Global trade in a changing world

Sep 10, 2024 | bankofcanada.ca | Tiff Macklem

Speech summary Canada-UK Chamber of Commerce Governor Tiff Macklem talks about how geopolitical, economic and social forces are changing global trade. He also discusses how Canada can benefit from trade shifts and prepare for future supply shocks. Benefits of open trade In the decades following World War II, open trade flourished around the world. This drove innovation, efficiency and productivity.