National Bank of Canada
Company
The National Bank of Canada is the country's central bank. It was created in 1934 and is governed by the Bank of Canada Act.
Financial performance
2022: First loss in history
The Bank of Canada lost $522 million in the third quarter of 2022. This was the first loss in its history.
Key rate
2023: Up to 5% - 22-year high
On July 12, 2023, the Bank of Canada raised interest rates by 25 bp to 5%, the highest in 22 years, believing that inflation is delayed. Growth forecasts have been revised upwards, helped by high immigration rates.
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