Breaking: The Bank of Canada matches estimates, leaves rates at 2.75%
|On Wednesday, the Bank of Canada (BoC) maintained its policy rate at 2.75%, a move that matched widespread market expectations.
Bank of Canada (BoC)
BoC pauses rate cuts in April, sees tariffs pushing up prices
LATEST BOC MEASURES TO BATTLE INFLATION
BoC outlook survey highlights deteriorating trade expectations on tariff fears
|The Bank of Canada's (BoC) Business Outlook Survey for the first quarter has shown that overlook economic activity expectations are contracting sharply as the United States (US) seeks to spark a global trade war across the board.
BoC Minutes: Would have left rates unchanged if not for tariff uncertainty
|The Bank of Canada's (BoC) latest Meeting Minutes showed the Canadian central bank may be much closer to freezing on interest rates than previously thought.
BoC's Macklem: 'Part' of the CPI release was expected
|BoC Governor Tiff Macklem is squeezing his money's worth out of his appearance at the Calgary Economic Development meeting in Calgary, delivering further soundbites about the BoC's stance in regards to inflation and tariffs to followup his earlier appearance.
BOC event related news
BOC event related analysis
March meeting review
Breaking: Bank of Canada cuts its interest rate by 25 basis points
|In a widely expected move, the Bank of Canada (BoC) announced on Wednesday that it was cutting its policy rate by 25 basis points to 2.75%, aligning with market forecasts.
January meeting review
Breaking: BoC trims its policy rate to 3.00%, matching estimates
|The Bank of Canada (BoC) delivers a widely expected 25 basis points rate cut, bringing interest rates down to 3.00% on Wednesday. This reduction in rates comes at a slower pace after back-to-back 50 basis points cuts.
December meeting review
Breaking: BoC cuts policy rate by 50 bps to 3.25% as expected
|The Bank of Canada (BoC) announced on Wednesday that it lowered the policy rate by 50 basis points (bps) to 3.25% following the December meeting. This decision came in line with the market expectation.
Big Picture
What is the BOC?
The Bank of Canada (BoC) is the nation's central bank. Its principal role, as defined in the Bank of Canada Act, is "to promote the economic and financial welfare of Canada." The bank’s responsibilities are divided into four main areas:
- Monetary policy: The bank influences the supply of money in the economy, using its monetary policy framework to keep low and stable inflation.
- Financial system: The bank promotes safe, sound, and efficient financial systems within Canada and internationally, conducting transactions in financial markets to support these objectives.
- Currency: The bank designs, issues, and distributes Canada’s banknotes.
- Funds management: The bank is the fiscal agent for the Government of Canada, managing its public debt programs and foreign exchange reserves.
The Bank of Canada (BoC) sets interest rates and manages monetary policy at eight scheduled meetings a year and ad hoc emergency meetings that are held as required. The BoC’s primary mandate is to maintain price stability, which means keeping inflation at between 1-3%. Its main tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a stronger Canadian Dollar (CAD) and vice versa. Other tools used include quantitative easing and tightening.
The official website, on X and YouTube
Who is BOC's Governor?
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.
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.