Tag: Bank

Bank of Canada Governor Stephen S. Poloz to step down in June 2020

The Board of Directors of the Bank of Canada announced today that Governor Stephen S. Poloz has informed them that he will not seek a second term as Governor when his seven-year term expires on June 2, 2020. The Board has begun a search process to select the next Governor of the Bank.  “It has…

Bank of Canada announces finalists for the fifth annual Governor’s Challenge

The Bank of Canada has announced the five finalist teams in the 2019-20 edition of The Governor’s Challenge, a competition where university students simulate the role of advisor to the Bank’s Governing Council. Congratulations to: University of British Columbia, coached by Jonathan Graves and Michael Devereux University of Calgary, coached by Paul Serletis Lakehead University,…

Bank of Canada maintains overnight rate target at 1 ¾ percent

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 ½ percent. The outlook for the global economy has weakened further since the Bank’s July Monetary Policy Report (MPR). Ongoing trade conflicts and uncertainty are restraining business investment,…