The Bank of Canada expects quantitative tightening to end sometime in 2025, deputy governor Toni Gravelle said in a speech Thursday about how the central bank plans to manage its balance sheet.
The central bank launched quantitative easing operations for the first time ever during the pandemic -- a process that involved buying government bonds from financial institutions using central bank money called settlement balances -- to indirectly drive down interest rates.
The central bank is now allowing those bonds to mature without being replaced, which has decreased the value of settlement balances financial institutions hold to about $100 billion.
In a speech in Toronto, Gravelle said the central bank estimates that process, which is called quantitative tightening, will end when settlement balances decline to somewhere between $20 billion and $60 billion.
He said once quantitative tightening ends, the central bank will resume its normal market operations, meaning it will purchase financial assets to reflect growth in cash circulating in the economy.
"Our holdings of financial assets grow passively to reflect the growth of our main balance sheet liability -- the cash in your wallets," said Gravelle, according to the prepared text of his speech released in Ottawa.
"When households and businesses want more bank notes for their day-to-day activities, we accommodate this by creating and circulating more notes via the bank sector."
Gravelle said the amount of cash in circulation typically grows alongside the rate of nominal economic growth. That allows the Bank of Canada to estimate how much cash will be demanded in the future, he said, even if the central bank doesn't control that growth.
This report by The Canadian Press was first published March 21, 2024.
U.S. forecasters are warning of destructive waves, devastating winds and flash floods through the week as Hurricane Milton makes its way from the Yucatan Peninsula toward Florida.
A seasoned American meteorologist became emotional on air as he gave an update on a major hurricane, later suggesting the reason behind his strong reaction.
An American family doctor is frustrated with what she says has been a challenging two-year-and-counting bureaucratic journey to be accepted into Canada.
Emotions boiled over after a judge acquitted two out of three defendants in a manslaughter case, while the third accused has since died.
A bipartisan group of 14 U.S. attorneys general from across the country filed lawsuits on Tuesday against TikTok, alleging that the platform has 鈥渁ddicted鈥 young people and harmed their mental health.
As U.S. regulators push for an investigation into what they call 'deadly baby and toddler products' from foreign e-commerce sites, health officials in Canada say they haven't determined whether any laws or regulations have been broken.
In his column for CTVNews.ca, former NDP leader Tom Mulcair argues that the dramatic side to Conservative Leader Pierre Poilievre, and his tendency to 'play everything to the hilt,' could well become his undoing.
Baby Boomers may be expected to live longer than their predecessors, but a recent study has found that they are more likely to suffer from worse health than previous generations.
The "Star Trek" star, Chris Pine, has a new children's book out, titled "When Digz the Dog Met Zurl the Squirrel: A Short Tale About a Short Tail."
On September 11, 80-year-old Madeleine Gervais was robbed in Ottawa's west end. It happened in the Loblaws parking lot in College Square, when she was approached by a man and a woman who insisted to help her load her groceries into her car.
An American family doctor is frustrated with what she says has been a challenging two-year-and-counting bureaucratic journey to be accepted into Canada.
Elections BC is reissuing new 'where to vote' cards to some residents after an administrative error mistakenly recommended voting places that were farther from homes than necessary.
A Toronto senior says she can鈥檛 believe that two roofers took advantage of her, despite knowing she was recently widowed and suffering from a painful disability.
A Saskatoon mom is desperately fighting eviction after she discovered mould in her suite and reported it to her landlord.
Police arrested a man accused of setting an animal on fire in Orillia, Ont. last month.
A former New York City official was charged Tuesday with witness tampering and destroying evidence in a federal investigation that led to Mayor Eric Adams鈥 bribery indictment. The arrest came amid yet more high-profile departures from Adams' administration as federal prosecutors delve deeper into allegations that the mayor was involved in a coverup.
Britain is facing a "staggering rise" in assassination attempts on U.K. soil by Russia and Iran, as the hostile states recruit criminals to "do their dirty work" for them, the head of the U.K.'s domestic intelligence agency said Tuesday.
A German court on Tuesday acquitted a man who is also under investigation in the 2007 disappearance of British toddler Madeleine McCann in a trial on charges of unrelated sexual offences.
A seasoned American meteorologist became emotional on air as he gave an update on a major hurricane, later suggesting the reason behind his strong reaction.
Kamala Harris called Donald Trump 'incredibly irresponsible' for spreading falsehoods about the federal response to Hurricane Helene's destruction, offering especially sharp words as a new storm bears down on Florida with just weeks until Election Day.
A World Health Organization official warned on Tuesday of disease outbreaks in Lebanon due to crowded conditions in displacement shelters and hospital closures as medics have fled Israel's assault.
Deputy Prime Minister Chrystia Freeland says the government has no intention of proroguing Parliament to end an impasse with the Tories over a matter of privilege.
Prime Minister Justin Trudeau is travelling to Laos today to take part in the ASEAN Summit.
A former deputy minister of public safety says nothing struck him as exceptional in 2021 about a weeks-long delay in ministerial approval of a spy service warrant.
A new report that looks at the sex lives of Canadian youth suggests more needs to be done to encourage safe sex, including reversing a decrease in condom use.
The Ontario government has lowered the age for regular mammogram breast screening to allow all woman between the age of 40 and 49 to self-refer for the service.
An American family doctor is frustrated with what she says has been a challenging two-year-and-counting bureaucratic journey to be accepted into Canada.
A British-Canadian researcher has won the Nobel Prize in physics for work developing the foundations of machine learning and artificial intelligence. The University of Toronto's Geoffrey Hinton was awarded the prize Tuesday morning, along with Princeton University researcher John Hopfield.
A device used by researchers with Fisheries and Oceans Canada appears to have been the victim of an attack by a great white shark.
A bipartisan group of 14 U.S. attorneys general from across the country filed lawsuits on Tuesday against TikTok, alleging that the platform has 鈥渁ddicted鈥 young people and harmed their mental health.
An elevator mechanic mistakenly threw out a piece of artwork, made to look like empty beer cans, assuming it was litter, a Dutch museum revealed earlier this month.
The "Star Trek" star, Chris Pine, has a new children's book out, titled "When Digz the Dog Met Zurl the Squirrel: A Short Tale About a Short Tail."
Cissy Houston, the mother of the late Whitney Houston and a two-time Grammy winner who performed alongside superstar musicians like Elvis Presley, and Aretha Franklin, has died. She was 91.
Statistics Canada says the country posted a merchandise trade deficit of $1.1 billion in August as lower oil prices weighed on exports.
A new report from the Canadian Chamber of Commerce is sending a stark warning ahead of the U.S. presidential election, saying protectionist policies like Donald Trump's proposed tariffs could damage economies on both sides of the border.
A Toronto senior says she can鈥檛 believe that two roofers took advantage of her, despite knowing she was recently widowed and suffering from a painful disability.
A woman in Greater Sudbury, Ont., said "It doesn't get more Canadian than this" when she spotted a black bear dumpster diving at a Tim Hortons last month.
A Winnipeg baker is hanging up his apron permanently because he won the lottery.
When it comes to raising a child, the majority of fathers say they share tasks equally, but fewer mothers tend to say the same thing, according to a Statistics Canada survey.
RJ Barrett will miss the rest of the Toronto Raptors' pre-season with an injury.
New York Jets owner Woody Johnson made the stunning decision Tuesday to fire Saleh five games into his fourth season after the team's 2-3 start following a 23-17 loss to Minnesota in London on Sunday.
FIFA banned Italian soccer player Marco Curto for 10 games for making a discriminatory remark at South Korea forward Hee Chan Hwang in a preseason game between Como and Wolverhampton.
Mercedes-Benz has partnered up with the Ontario Vehicle Innovation Network (OVIN) and the provincial government to launch a new 鈥渋ncubator program鈥. One of the first three locations is Windsor, with the other two going to Toronto and Kitchener-Waterloo.
New data from the Insurance Bureau of Canada (IBC) shows that even though claims for auto theft dropped in the first half of 2024 compared to their 2023 peak, the rates of reported theft remain well above those of years prior.
Tesla is recalling more than 27,000 Cybertrucks because the rearview camera image may not activate immediately after shifting into reverse, the fifth recall for the vehicle since it went on sale late last year.
A B.C. couple is getting desperate 鈥 and creative 鈥 in their search for their missing dog.
Videos of a meteor streaking across the skies of southern Ontario have surfaced and small bits of the outer space rock may have made it to land, one astronomy professor says.
A unique form of clouds made an appearance over the skies of Ottawa on Sunday evening.
Bernie Hicks, known as the 鈥楤atman of Amherst,鈥 always wanted to sit in a Batmobile until a kind stranger made it happen.
Bubi鈥檚 Awesome Eats, located on University Ave West took to social media to announce the closure on Friday.
Weeneebayko Area Health Authority and the Government of Ontario have awarded a $1.8 billion fixed-price contract to design, build and finance a new Far North hospital.
Manitobans are in cleanup mode after intense winds barreled through southern parts of the province this weekend.
Avry Wortman, 13, scored two touchdowns on Sunday during her team's win in the under 14 Greater Moncton Football Association.
A gargantuan gourd 鈥 affectionately named 鈥極rangina鈥 by the urban gardeners who grew it in the front yard of their Vancouver home 鈥 earned the massive honour of being named B.C.鈥檚 heaviest giant pumpkin Saturday.
Police are investigating after a 60-year-old woman was struck and killed by a vehicle Tuesday morning in Abbotsford, B.C.
Vancouver Fire Rescue Services were called to a blaze affecting multiple houses on the 1000 Block of East Pender St.
Elections BC is reissuing new 'where to vote' cards to some residents after an administrative error mistakenly recommended voting places that were farther from homes than necessary.
Some City of Toronto park crews did half as much maintenance work as they reported and instead appeared to hang out at plazas and eateries, a new report from the city鈥檚 Auditor General has found.
Police are searching for five teenagers who allegedly sexually assaulted a female youth in Vaughan over the weekend.
A Toronto senior says she can鈥檛 believe that two roofers took advantage of her, despite knowing she was recently widowed and suffering from a painful disability.
Calgary police are investigating after several shots were fired in the northeast community of Saddle Ridge.
Calgary's police chief is worried possible changes to Alberta's photo radar rules will affect safety for both residents and officers 鈥 and not just on the roads.
Calgary police are trying to find a woman who was touched inappropriately by a naked man in early August.
On September 11, 80-year-old Madeleine Gervais was robbed in Ottawa's west end. It happened in the Loblaws parking lot in College Square, when she was approached by a man and a woman who insisted to help her load her groceries into her car.
An Ottawa man who stabbed his estranged wife to death in an attack that also injured his daughter in Ottawa's west end has been found guilty of first-degree murder and attempted murder.
The federal government announced 14 new properties will be added to the Canada Public Land Bank, the list of federal properties that could be turned into new homes, including seven in Ottawa and two in Gatineau, Que.
Quebec coroner G茅hane Kamel will preside over a public enquiry into the deaths of L茅onor Geraudie, 43, and her seven-year-old daughter V茅rane, who were killed in a fire in a heritage building in Old Montreal on Oct. 4 that also left two people injured.
Montreal police (SPVM) arrested a 15-year-old in connection with an alleged arson in Saint-Leonard that occurred on the weekend.
Swedish battery manufacturer Northvolt said on Tuesday that one of its entities had filed for bankruptcy with a Stockholm court due to its financial situation.
Edmonton's transit system is seeing record usage, with six million trips taken in September.
This is for people new to hockey. Not everyone who lives in Canada follows the game, even though it's the country's unofficial official sport. Hard for the hardcore hockey fan to understand, I know.
The upper ridge continues to dominate the weather pattern over Alberta.
Police in New Brunswick are trying to track down a man they consider 鈥渁rmed and dangerous鈥 after he allegedly crashed a vehicle, waved a weapon at police, and fled in a stolen vehicle.
A device used by researchers with Fisheries and Oceans Canada appears to have been the victim of an attack by a great white shark.
A band of rain continues to move slowly across the Maritimes as Hurricane Milton is forecasted to remain a major hurricane with severe weather impacts in Florida.
To get between Churchill, Manitoba, Canada -- the polar bear and beluga whale capital of the world and a tourist hot spot for northern adventure tourism -- and Winnipeg, Manitoba, there are only two options: A $1,100 one-way plane flight that takes two-and-a-half hours or a scenic 45-hour to 49-hour much cheaper train ride.
Manitoba RCMP and the Winnipeg Police Service are launching a most-wanted website.
Manitoba health-care support workers will not be hitting the picket line on Tuesday morning.
A 35-year-old Regina man is facing multiple charges after police say he barricaded himself inside a basement suite and set fire to entryways.
The province鈥檚 consumer watchdog is investigating a Saskatoon company selling luxury vacation condos in Mexico.
Those in Saskatchewan gazing at the stars Monday night were treated to a brilliant display of northern lights 鈥 as a solar storm continues to bear down on the northern hemisphere.
Fire crews were called to respond to Mohawk Plaza shortly before 2 a.m. Tuesday.
Police say they received a 911 call from the involved pilot around 11:20 a.m. after they had crash-landed in a farm field near Newry Road.
In September, 麻豆影视 Kitchener reported on Sandvine's deals with autocratic governments, including Egypt, where its tech reportedly helped inject spyware into the devices of government critics.
The province鈥檚 consumer watchdog is investigating a Saskatoon company selling luxury vacation condos in Mexico.
A Saskatoon mom is desperately fighting eviction after she discovered mould in her suite and reported it to her landlord.
Those in Saskatchewan gazing at the stars Monday night were treated to a brilliant display of northern lights 鈥 as a solar storm continues to bear down on the northern hemisphere.
A teacher working on a First Nation in northwestern Ontario has been charged with sexually assaulting a minor.
The mayor of Greater Sudbury is throwing his weight behind a proposal that could see 83 new residential units come out of the old Scotia Tower downtown.
Police in Huntsville are investigating a deadly single-vehicle collision that happened Tuesday morning.
U.S. forecasters are warning of destructive waves, devastating winds and flash floods through the week as Hurricane Milton makes its way from the Yucatan Peninsula toward Florida.
A 20 year old is charged with two counts of fail or refusal to comply with demand made by peace officer cause bodily harm, two counts of dangerous operation causing bodily harm, two counts of impaired operation cause bodily harm and transport cannabis
The reigning Ontario Hockey League regular season and playoff MVP looked to have a little extra jump in his step on the ice, and it鈥檚 clear he鈥檚 improved since the Memorial Cup final last spring.
A 20-year-old man who was behind the wheel of a speeding car that struck and killed an international student crossing Big Bay Point Road in Barrie last summer has pleaded guilty to dangerous driving causing death.
Police in Huntsville are investigating a deadly single-vehicle collision that happened Tuesday morning.
Police arrested a man accused of setting an animal on fire in Orillia, Ont. last month.
Several cars are being pulled out of the Detroit River in west Windsor.
Windsor police say they are looking for the driver who crashed into the Children鈥檚 Aid Society building.
Mercedes-Benz has partnered up with the Ontario Vehicle Innovation Network (OVIN) and the provincial government to launch a new 鈥渋ncubator program鈥. One of the first three locations is Windsor, with the other two going to Toronto and Kitchener-Waterloo.
Elections BC is reissuing new 'where to vote' cards to some residents after an administrative error mistakenly recommended voting places that were farther from homes than necessary.
The leaders of B.C.'s three main political parties will be facing off Tuesday evening for their first and only televised debate ahead of the Oct. 19 election. Here's what viewers can expect.
Police are investigating after a 60-year-old woman was struck and killed by a vehicle Tuesday morning in Abbotsford, B.C.
Nearly two years after a man was stabbed to death in downtown Kelowna, RCMP have made an arrest in the case.
NDP Leader David Eby is promising to offer a $75-million loan forgiveness program to entice doctors, nurses and heath professionals to expand health-care services in rural British Columbia.
Three young suspects have been arrested in connection with a swarming attack on a teenager in B.C.'s Okanagan last week 鈥 and authorities have asked the public to stop circulating disturbing videos of the incident.
A Lethbridge police officer involved in a scandal involving former Lethbridge New Democrat MLA Shannon Phillips has been reprimanded.
Lethbridge police say a man who escaped from a psychiatric ward at the Chinook Regional Hospital has been found.
While the summer may be over, construction season in Lethbridge is not.
A woman in Greater Sudbury, Ont., said "It doesn't get more Canadian than this" when she spotted a black bear dumpster diving at a Tim Hortons last month.
The Federation of Northern Ontario Municipalities (FONOM) is the latest organization to call on the Doug Ford government to re-open dialogue with an airline service that transports lower-income Canadians to crucial medical care far from home.
For decades, Mississauga First Nation has known that human remains from their land were at the Canadian Museum of History.
As millions in federal funding flow into a Labrador group whose claims of Inuit identity have been rejected by Indigenous organizations across Canada, a national Inuit leader worries the Liberal government is putting the rights of Indigenous Peoples at risk.
He may not have logged the fastest time or even gone the full distance, but residents of a Newfoundland town agree the goat who unexpectedly joined the local weekend half marathon was the event's undisputed champion.
A mother in a community where the cost of living is one of the highest in the country says grocery prices are 'inhumane' and retailers are putting profits ahead of people鈥檚 basic human right to food.
The Shopping Trends team is independent of the journalists at 麻豆影视. We may earn a commission when you use our links to shop.聽Read about us.
