The Bank of Canada is the Central Bank of Canada. The BOC principal role is to promote the economic and financial welfare of Canada. The Bank’s four main areas of responsibility are:
- Monetary policy: The Bank influences the supply of money circulating in the economy, using its monetary policy framework to keep inflation low and stable.
- Financial system: The Bank promotes safe, sound and efficient financial systems, within Canada and internationally, and conducts transactions in financial markets in support of these objectives.
- Currency: The Bank designs, issues and distributes Canada’s bank notes.
- Funds management: The Bank is the “fiscal agent” for the Government of Canada, managing its public debt programs and foreign exchange reserves.
Central Bank Of Canada Monetary Policy Overview
The objective of monetary policy is to preserve the value of money by keeping inflation low, stable and predictable. This allows Canadians to make spending and investment decisions with more confidence, encourages longer-term investment in Canada’s economy, and contributes to sustained job creation and greater productivity. This in turn leads to improvements in our standard of living. Canada’s monetary policy framework consists of two key components that work together: the inflation-control target and the flexible exchange rate. This framework helps make monetary policy actions readily understandable, and enables the Bank to demonstrate its accountability to Canadians.
To maintain price stability and to ensure the stability of the financial system, which makes inflation the central bank’s top focus.
Frequency of Meeting
Once or twice a month
Learn more about the BOC & how they determine Monetary Policy
Stephen S. Poloz
Carolyn A. Wilkins, Senior Deputy
Timothy Lane, Deputy
Sylvain Leduc, Deputy
Lynn Patterson, Deputy
Lawrence Schembri, Deputy
Filipe Dinis, COO