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Bank of Canada

Canadian bank
Written and fact-checked byThe Editors of Encyclopaedia Britannica
The Editors of Encyclopaedia Britannica
Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree. They write new content and verify and edit content received from contributors.
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Ottawa: Bank of Canada
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Bank of Canada headquarters, Ottawa.
d.neuman
Date:
March 11, 1935 - present
Related People:
Mark Carney
Recent News
(Globe and Mail)Bank of Canada expected to hold rates, but could signal policy shift
(CBC)Some consumers, businesses are feeling more optimistic about the economy, say BoC surveys

Bank of Canada, Canada’s central bank, established under the Bank of Canada Act (1934). It was founded during the Great Depression to regulate credit and currency. The bank commenced operations on March 11, 1935. It not only acts as the fiscal agent for the Canadian government but also has the sole right to issue paper money. The Canadian Ministry of Finance has ultimate direction of the bank, and all profits made go to the Receiver General of Canada.

This article was most recently revised and updated by Amy Tikkanen.