Bank of Canada Announcement July 14: Key Takeaways

July 15th, 2021


On July 14, the Bank of Canada (BoC) announced that it will hold its current level of policy rate until the inflation objective is sustainably achieved. The overnight rate remains the same at the effective lower bound of 0.25%. The Bank Rate remains at 0.5% and the deposit rate at 0.25%.

Quantitative easing (QE) has been adjusted to the target pace of $2 billion per week.