Bank of Canada, with acronym BOC is the Canadian’s Central bank that administers the country’s monetary policies. The Bank of Canada’s announcements informs Canadians about the interest rates and other financial policies of the government.
BOC was established in line with the Bank of Canada Act of 1934. The Act clearly stated that the BOC was established to promote the economic and financial welfare of Canada.” The Bank of Canada and its governing council are responsible for printing money, setting monetary policies, as well as determining the country’s interest rate.
The responsibility of the Bank of Canada is broadly categorized into four major areas
- Monetary policy: The Bank of Canada is statutorily mandated to dictate the supply of money circulating in the economy.
- Currency: The BOC is also the sole issuer of Canadian banknotes. The bank is also responsible for funds management.
- Public Debt: The Bank of Canada is also responsible for managing the federal government’s foreign reserves and public Debt.
Schedule | Financial Event |
|---|---|
January 11, 06 PM | Regular Meeting |
January 25, 04 PM | Work Session |
February 8, 06 PM | Regular Meeting |
February 22, 04 PM | Work Session |
March 8, 06 PM | Regular Meeting |
March 22, 04 PM | Work Session |
April 05, 06 PM | Regular Meeting |
April 26, 04 PM | Work Session |
May 10, 06 PM | Regular Meeting |
May 24, 04 PM | Work Session |
June 14, 06 PM | Regular Meeting |
June 28, 04 PM | Work Session |
July 12, 06 PM | Regular Meeting |
July 26, 04 PM | Work Session |
August 09, 06 PM | Regular Meeting |
August 23, 04 PM | Work Session |
September 13, 06 PM | Regular Meeting |
September 27, 04 PM | Work Session |
October 11, 06 PM | Regular Meeting |
October 25, 04 PM | Work Session |
November 08, 06 PM | Regular Meeting |
November 22, 04 PM | Work Session |
December 13, 04 PM | Regular Meeting |
December 20, 06 PM | Work Session |
Bank of Canada
The Bank of Canada is a Crown corporation and Canada’s central bank. Chartered in 1934 under the Bank of Canada Act, it is responsible for formulating Canada’s monetary policy, and for the promotion of a safe and sound financial system within Canada. Canada’s central bank was founded in 1934 and opened its doors in March 1935. In 1938, it became a Crown corporation belonging to the federal government. The Bank of Canada Act has been amended several times, but the preamble to the Act has not changed. The Bank still exists “to regulate credit and currency in the best interests of the economic life of the nation.”
