We share insights about non-bank financial intermediation in Canada in 2023. These data were collected as part of the Bank of ...

Assessing insolvency dynamics is essential for evaluating the financial health of non-financial corporations and mitigating macroeconomic and financial stability risks. This study leverages a newly ...

Central bankers argue that programmable digital currencies may compromise the uniformity of money. We explore this in a stylized model where programmable money arises endogenously, and differently ...

Our paper employs smartphone data to construct an improved cash access metric by accounting for both spatial agglomeration and households’ travel patterns. We find that incorporating trip-chaining ...

US trade protectionism is making the economic outlook increasingly uncertain. To assess how consumer prices may respond to ...

Governor Tiff Macklem discusses how the trade conflict with the United States has affected the Canadian economy. He explains ...

Surveying Canadians Now on to another important tool: surveys. Like other central banks, the Bank conducts a number of surveys with the financial sector. 1 The results provide us with information on ...

What uncertainty means for monetary policy Let me now turn to how the Bank of Canada is navigating tariff uncertainty. At the most fundamental level, we are anchored by our monetary policy ...

Results from the Business Outlook Survey and the Business Leaders’ Pulse show that overall business conditions remain subdued, but firms are beginning to anticipate improvements in activity. Sales ...

The estimated range for settlement balances will evolve over time Once we resume purchasing assets to offset the growth of currency in circulation, we will aim to manage our balance sheet in a way ...

1. See, for example, F. Bounajm, J. G. J. Roc and Y. Zhang, “ Sources of pandemic-era inflation in Canada: an application of the Bernanke and Blanchard model,” Bank of Canada Staff Analytical Note No.

Introduction I’m glad to have the opportunity to speak with you today. Back in 2019, I spoke to the Economic Club of Canada about mortgages in my previous role as a bank regulator. Five years later ...