In Other News…

• The Bank of Canada has issued a progress update on the new $20, which will feature King Charles III as the portrait subject, replacing that of the late Queen Elizabeth II. The back will continue to feature the Canadian National Vimy Memorial.

In another significant change, the new note will be vertical like the current $10 note issued in 2018 and, says the Bank, will incorporate enhanced security features.

The $20 banknote is described by the Bank as Canada’s ‘workhorse note’, with more than a billion in circulation. The current $20 note, which was first issued in 2012, is the only note in the Frontier series to feature the monarch, who is Canada’s head of state. The new note is expected to go into circulation in 2027.