Central bank minutes · Canada
Canada BoC Summary of Deliberations
The Canada BoC Summary of Deliberations is the written account of the Bank of Canada's latest policy meeting: the arguments made, the risks discussed and how members voted.
- Importance
- High
- Currency
- CAD · Canadian dollar
- Central bank
- The Bank of Canada
Latest figures
No results of this release are shown yet. They appear here as soon as they are published.
Why it matters
The decision itself is known weeks earlier; the minutes show how close the committee was to a different decision and what would change its mind. Traders scan them for hints about the next move in the overnight rate target, so a more hawkish or dovish tone than expected moves the Canadian dollar and short-term bond yields.
How it is calculated
There is no figure. The central bank's staff write a summary of the meeting, approved by the members and published on a set date (three weeks after the meeting for the Fed, four for the ECB's accounts).
What changes mean
- Count the references to inflation risks against growth risks.
- "Many" or "most" members holding a view means more than "a few" or "some".
- Disagreement in the committee often foreshadows a change of direction.
Higher than expected: A more hawkish tone than expected tends to lift the Canadian dollar and short-term yields.
Lower than expected: A more dovish tone than expected tends to weaken the Canadian dollar and lower short-term yields.
A short history
The Federal Reserve began publishing FOMC minutes with a delay of three weeks in 2005 (it used to wait for the next meeting); the Bank of England publishes minutes with each decision since 2015, and the ECB began publishing accounts of its meetings in 2015.
Questions
What is the Canada BoC Summary of Deliberations?
The Canada BoC Summary of Deliberations is the written account of the Bank of Canada's latest policy meeting: the arguments made, the risks discussed and how members voted.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.