What is the bank of Canada's overnight rate target?

The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening. Global economic developments have evolved broadly in line with the outlook in the January Monetary Policy Report (MPR).

When will the bank of Canada release its monetary policy report?

The Bank of Canada today published its 2023 schedule for the release of its policy interest rate decisions and quarterly Monetary Policy Report. *The Monetary Policy Report is published concurrently with the January, April, July and October rate announcements. All rate announcements will take place at 10:00 (ET).

What is the bank of Canada's inflation target?

The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening. Global inflation remains high and broad-based.

What time is the bank of Canada rate announcement press release?

Electronic recording is not permitted. The rate announcement press release and the Monetary Policy Report will be available at 10:00 (ET) on the Bank’s website. At 11:00 (ET), Tiff Macklem, Governor of the Bank of Canada, and Carolyn Rogers, Senior Deputy Governor, will hold a press conference in the Bank of Canada’s auditorium.