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The Bank carries out monetary policy by influencing short-term interest rates. It does this by adjusting the target for the overnight rate on eight fixed dates each year.
At the heart of the Bank of Canada’s monetary policy is the target for the overnight rate. See what it is—and what it means for you.
The Bank of Canada lowered its key interest rate by 25 basis points on Wednesday and opened the door to bigger cuts if the economy slows more sharply in the months ahead.
In its third consecutive cut since June, the Bank of Canada lowered its key interest rate to 4.25 per cent on Wednesday, citing the continued easing of inflation.
The Bank of Canada today published its 2024 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report. It also reconfirmed the scheduled interest rate announcement dates for the remainder of this year.
The Bank of Canada has lowered its key interest rate to 4.75 per cent, marking the bank's first rate cut since March 2020. 'We've come a long way in the fight against inflation,' said BOC...
The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is also continuing its policy of quantitative tightening.