Downtown Ottawa , Ontario — Central Canada (North America)
Bank of Canada / La Banque du Canada
Canada's Central Bank / La banque centrale du Canada
The Bank of Canada is the country's monetary authority. Since the Bank opened its doors in 1935, its purpose has been to promote the economic and financial well-being of Canadians.
Through its monetary policy, the Bank aims to preserve confidence in the value of money by keeping inflation low, stable and predictable. It does this by setting a target for short-term interest rates. This influences other rates and, in turn, saving and investment decisions. Also, it promotes a safe and efficient financial system; designs and distributes Canada's bank notes; and serves as the federal government's banker, helping to manage its public debt programs and foreign exchange reserves.
Old Meets New
The Bank of Canada's head office is a fine example of the Capital's architectural evolution, balancing the modern with the classical. The original granite structure, opened in 1938 remains the heart of the building. In the 1970s, the complex was expanded through the addition of two glass office towers and a large indoor atrium. In 2016, the Bank completed a major renewal of the facility, including the redesign of the Bank of Canada Plaza on the building's east side.
The Bank of Canada Museum, located within the complex, allows visitors to learn more about the Bank's key role in the Canadian economy and view artifacts from the National Currency Collection.
The National Capital Commission and the Department of Canadian Heritage, in collaboration with the Bank of Canada
La Banque du Canada est l'autorité monétaire du pays. Depuis qu'elle a ouvert ses portes en 1935, la Banque a pour mandat de promouvoir le bien-être économique et financier de la population canadienne.
Par sa politique monétaire, elle vise à préserver la confiance dans la valeur de la monnaie en maintenant l'inflation à un niveau bas, stable et prévisible. La Banque du Canada atteint cet objectif en établissant les taux d'intérêt à court terme, qui influent sur les autres taux et, par ricochet, sur les décisions d'épargne et d'investissement. Elle promeut aussi un système financier fiable et efficient et conçoit et distribue les billets de banque canadiens. En tant qu'agente bancaire du gouvernement fédéral, elle l'aide à gérer ses programmes de dette publique et ses réserves de change.
L’ancien côtoie le nouveau
Le siège de la Banque du Canada illustre bien l'évolution architecturale de la capitale : style classique et modernité coexistent en harmonie. L'édifice original, une structure en granit inaugurée en 1938, demeure le centre de l'édifice. Dans les années 1970, deux tours de bureaux en verre et un grand atrium intérieur se sont ajoutés au complexe. En 2016, la Banque du Canada a réalisé d'importantes rénovations, dont le réaménagement de la terrasse adjacente à la tour est du complexe.
Situé dans le complexe, le Musée de la Banque du Canada permet aux visiteurs de se renseigner sur le rôle essentiel de la Banque dans l'économie canadienne et d'admirer des artefacts de la Collection nationale de monnaies.
La Commission de la capitale nationale et le ministère du Patrimoine canadien, en collaboration avec la Banque du Canada
Erected by The National Capital Commission / La Commission de la capitale nationale.
Topics. This historical marker is listed in these topic lists: Architecture • Industry & Commerce. A significant historical year for this entry is 1935.
Location. 45° 25.279′ N, 75° 42.197′ W. Marker is in Ottawa, Ontario. It is in Downtown Ottawa. Marker is on Wellington Street (Route 34) east of Kent Street (Route 83), on the left when traveling east. Marker is located along the sidewalk directly across Wellington Street from the Bank of Canada. Touch for map. Marker is at or near this postal address: 234 Wellington Street, Ottawa ON K1A 0G9, Canada. Touch for directions.
Other nearby markers. At least 8 other markers are within walking distance of this marker. Supreme Court of Canada / La Cour suprême du Canada (about 90 meters away, measured in a direct line); St. Andrew's Church / L’église St. Andrew's (about 90 meters away); St. Andrew's Presbyterian Church (about 120 meters away); Henriette Bourque (about 120 meters away); Railways and Radio Waves / Chemins de fer et ondes radio (about 150 meters away); Veterans Charter / La Charte des Anciens Combattants (about 240 meters away); National Press Building / L’Édifice national de la presse (approx. 0.2 kilometers away); Asbury College (approx. 0.3 kilometers away). Touch for a list and map of all markers in Ottawa.
Related markers. Click here for a list of markers that are related to this marker. Confederation Boulevard / Boulevard de la Confédération
Also see . . .
1. Bank of Canada Building (Wikipedia). It is constructed of grey granite from Québec. It is late neoclassical in style, which was a very popular style at the time for banks. The large bronze front doors were designed by Ulysses Ricci of New York, and decorated with facsimiles of Greek coins from the British Museum. The sculptures decorating the front facade were designed by Jacobine Jones, and they represent Canada's seven principal industries at the time: fishing, electricity, mining, agriculture, forestry, manufacturing, and construction. The cornerstone was placed by Prime Minister Mackenzie King and the Bank's first governor, Graham Towers. (Submitted on June 2, 2020, by Cosmos Mariner of Cape Canaveral, Florida.)
2. The Bank's History. The Great Depression, fuelled by drought conditions and a worldwide economic slump, contributed to a change in government and unprecedented public criticism of Canada's banking system. It also coincided with Prime Minister R.B. Bennett's concern that Canada lacked a direct means for settling international accounts. In 1933, he set up a Royal Commission to study “the organization and working of our entire banking and monetary system [and] to consider the arguments for or against a central banking institution." The arguments "for" won. The Royal Commission, headed by Lord Macmillan, recommended in its report the establishment of a central bank. A week after the report was made public, the Prime Minister announced that his government would adopt the recommendations. Soon after the Bank opened a new government introduced an amendment to the Bank of Canada Act to nationalize the institution. In 1938, the Bank became publicly owned and remains so today. (Submitted on June 2, 2020, by Cosmos Mariner of Cape Canaveral, Florida.)
Credits. This page was last revised on January 24, 2022. It was originally submitted on May 29, 2020, by Cosmos Mariner of Cape Canaveral, Florida. This page has been viewed 153 times since then and 17 times this year. Photos: 1. submitted on June 1, 2020, by Cosmos Mariner of Cape Canaveral, Florida. 2, 3, 4, 5, 6, 7, 8, 9. submitted on June 2, 2020, by Cosmos Mariner of Cape Canaveral, Florida.