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Britannica Money
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    U.S. Federal Reserve Board Building
    Federal Reserve System
    Mark Carney
    Mark Carney
    European Central Bank
    European Central Bank

    Bank of Canada

    central bank, Canada
    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.
    Updated:
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      U.S. Federal Reserve Board Building
      Federal Reserve System
      Mark Carney
      Mark Carney
      European Central Bank
      European Central Bank
      Ottawa: Bank of Canada
      Open full sized image
      Bank of Canada headquarters, Ottawa.
      d.neuman
      Date:
      March 11, 1935 - present
      Related People:
      Mark Carney
      Recent News
      (Globe and Mail)Inflation rises to 2 per cent, dulling case for big BoC rate cut
      (Globe and Mail)The close: TSX at record high, loonie sinks to 4-year low, even as traders price higher odds of smaller BoC rate cut in December

      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.