Its principal role is "to promote the economic and financial welfare of Canada," as defined in the Bank of Canada Act.
Monetary policy: The Bank influences the supply of money circulating in the economy, using its monetary policy framework to keep inflation low and stable.
Financial system: The Bank promotes safe, sound and efficient financial systems, within Canada and internationally, and conducts transactions in financial markets in support of these objectives.
Currency: The Bank designs, issues and distributes Canada’s bank notes.
Funds management: The Bank is the "fiscal agent" for the Government of Canada, managing its public debt programs and foreign exchange reserves.
Retail payments supervision: Under the Retail Payment Activities Act, the Bank will be responsible for supervising payment service providers.