Bank of Canada (BoC) Monetary Policy Report Press Conference

The Bank of Canada (BoC) Monetary Policy Press Conference is held after the BoC's quarterly meeting, during which the interest rate and monetary policy is discussed.

The press conference is normally held by the BoC Governor and Deputy Governor. First, the Governor reads out a statement, which contains a brief description of current financial and economic conditions in Canada, then announces the short-term interest rate and adopted monetary policy measures. This is followed by a short answer session.

Now, webcasts of press conferences are also published on the BoC's official YouTube channel.

The Bank of Canada press conferences are usually expected by economists and analysts around the world. The behavior of the Canadian dollar largely depends on the decision taken by the regulator. The BoC Governor's comments on the interest rate decision can additionally influence the currency volatility. If the Governor's comments suggest that the BoC may tighten the monetary policy in the future, this is seen as positive for the Canadian dollar quotes. If both the decision and the BoC Governor's statement are within expected ranges, the press conference will hardly have a serious impact on currency markets.