Bank of Canada (BoC)

BoC keeps rate unchanged, remains concerned about underlying inflationary pressures


BoC’s Kozicki: Interest rates need to remain high

Bank of Canada (BoC) Deputy Governor Sharon Kozicki said on Tuesday that interest rates need to remain high. She pointed out that they are concerned about the underlying inflation. She explained that core measures of inflation have eased, but the latest Consumer Price Index report indicates that inflationary pressures are still broad-based.

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BOC event related analysis

April BoC meeting review

March BoC meeting review

Bank of Canada leaves policy rate unchanged at 4.5% as expected

The Bank of Canada (BoC) announced on Wednesday that it left the benchmark interest rate unchanged at 4.5% following the March policy meeting. This decision came in line with the market expectation. In its policy statement, the BoC reiterated that it expects to hold the key rate at its current level, conditional on the economy developing broadly in line with its forecasts.

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.

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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


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.