Bank of Canada’s Losses Could Surpass $8 Billion in Coming Years: Think Tank

The Bank of Canada building in Ottawa on Dec. 6, 2022. The Canadian Press/Sean Kilpatrick

For the first time in history since the Bank of Canada’s founding in 1935, the federal government-owned bank will suffer a financial loss that the C.D. Howe Institute estimates could be up to $8.8 billion in the coming years.

A Jan. 12 brief produced by the nonprofit policy research organization, said it estimates the Bank of Canada (BoC) will suffer “cumulative losses of between $3.6 billion and $8.8 billion over the next two to three years.”