Bank of Canada ●About bank

Bank of Canada
●About bank
The Bank of Canada is the nation's central bank. We are not a commercial
bank and do not offer banking services to the public. The principal role, as
defined in the Bank of Canada Act, is "to promote the economic and
financial welfare of Canada."
●Five main areas of Responsibility
(A)Monetary Policy
The goal of monetary policy is to contribute to solid economic
performance and rising living standards for Canadians by keeping
inflation low, stable, and predictable. The cornerstone of the Bank's
monetary policy framework is its inflation-control system, the goal of
which is to keep inflation near 2 per cent — the mid-point of a 1 to
3 per cent target range. This system provides a clear measure of the
effectiveness of monetary policy, and increases the predictability of
inflation. The Bank is equally concerned with significant movements
in the inflation rate, both above the 2 per cent mid-point and
below it. When demand is strong, it can push the economy
against the limits of its capacity to produce. This tends to raise
inflation above the midpoint, so the Bank will raise interest rates
to cool off the economy. When demand is weak, inflationary
pressures are likely to ease. The Bank will then lower interest
rates to stimulate the economy and absorb economic slack.
The Bank of Canada designs and issues bank notes that Canadians
can use with the highest confidence.
1. The Bank of Canada's Roles
The Bank of Canada is the country's sole bank note-issuing
authority and is responsible for designing, producing, and
distributing Canada's bank notes.
2 .Regional Offices
As part of their mandate, the regional offices serve as
contact points for Canadians requiring assistance to access
services offered by the Bank. Among the range of services
offered is the delivery of currency education programs to law
enforcement, financial institutions and retailers
3. Design and Production
It can take several years to design a series of bank notes, and
once the design has been approved, the Bank contracts the
printing of the bank notes to two security printing companies:
Canadian Bank Note Company, Limited and BA International Inc.
4. Distribution
The Bank of Canada must be prepared to supply financial
institutions with enough bank notes to satisfy public
(C) Financial System
Canada's financial system consists of:
1, Financial Institutions
2 .Financial Markets
3. Payments and Other Clearing and Settlement Systems
4. Funds Management
(D)Funds Management
The Bank is the "fiscal agent" for the Government of Canada. The role of fiscal
agent encompasses several responsibilities relating to the management of public
1. Government Banker and Treasury Manager
2. Foreign Exchange Reserves
3. Debt Management
4. Retail Debt
(E)Corporate Administration
Corporate Administration supports the sound management of human,
financial, information, technology and physical resources and related
infrastructure through the development of corporate policies and the
maintenance of cost-effective, integrated systems and practices.
● Rate and Statistics
1. Daily Digest; 2.Exchange rate;3.Interest Rate; 4.Price Indexes;
5. Indicator:6. Related Info.