BoC
Business & Finance abbreviation · Economics
| Stands for | Bank of Canada |
|---|---|
| Categories | Business & Finance |
BoC stands for Bank of Canada, an economics abbreviation.
Canada's central bank, founded in 1934 and based in Ottawa, which sets the policy interest rate, issues banknotes and targets 2 percent inflation within a 1 to 3 percent range. It announces rate decisions eight times a year.
Example: The BoC lowered its policy rate by a quarter point as the economy slowed.
Usage notes
Canada adopted inflation targeting in 1991, jointly with the federal government, and the inflation-control agreement is renewed every five years. Tiff Macklem has been governor since 2020. Rate decisions are accompanied by a Monetary Policy Report four times a year.
Related abbreviations
More economics abbreviations
- AD – Aggregate demand
- AS – Aggregate supply
- ATC – Average total cost
- AVC – Average variable cost
- BoE – Bank of England
- BoJ – Bank of Japan
- BoP – Balance of payments
- BOT – Balance of trade
- BRICS – Brazil, Russia, India, China and South Africa
- CAD – Current account deficit
- CBA – Cost-benefit analysis
- CCI – Consumer Confidence Index