Publications

• October 29, 2025

  Monetary Policy Report—October 2025

  

  Canada’s economy is adjusting to tariffs and the sharp drop in demand for exports. The reconfiguration of global trade and domestic production is leading to higher costs. Total inflation has been around 2%, while underlying inflation remains about 2½%.

  Content Type(s): Publications, Monetary Policy Report
• October 20, 2025

  Business Outlook Survey—Third Quarter of 2025

  Results from the Business Outlook Survey and the Business Leaders’ Pulse reveal that firms’ outlooks and intentions remain subdued despite a gradual improvement in sentiment. Expectations for growth in domestic and export sales are still soft. Most firms do not plan to increase staffing, and investment intentions are restrained. While businesses continue to expect cost increases from tariffs and trade uncertainty, weak demand limits their ability to pass these costs through to prices. One-year-ahead inflation expectations remain below the peak reached earlier in the trade conflict.

  Content Type(s): Publications, Business Outlook Survey
• October 20, 2025

  Canadian Survey of Consumer Expectations—Third Quarter of 2025

  Results of the third-quarter 2025 survey show that tariffs and trade tensions continue to affect consumers' perceptions about their financial health and spending plans. The CSCE indicator rose modestly from its most recent low, improved by slight gains in financial health and household spending intentions. But perceptions of labour market conditions deteriorated further, driven in part by a sharp drop in job-finding prospects for public sector workers. Consumers’ short-term inflation expectations remain above their pre-pandemic averages, and expectations for longer-term inflation have picked up again.

  Content Type(s): Publications, Canadian Survey of Consumer Expectations
• October 1, 2025

  Summary of Governing Council deliberations: Fixed announcement date of September 17, 2025

  This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on September 17, 2025.

  Content Type(s): Publications, Summary of deliberations
• September 12, 2025

  The evolution of how we pay for things

  

  New technologies new payments possibilities. Learn more about how these innovations can make purchases easier, but also introduce new risks.

  Content Type(s): Publications, The Economy, Plain and Simple Research Topic(s): Cyber security, Digital currencies and fintech, Digitalization, Financial services, Payment clearing and settlement systems, Retail payments supervision
• August 22, 2025

  Quarterly Financial Report - Second Quarter 2025

  Quarterly Financial Report - Second Quarter 2025 - For the period ended June 30, 2025, unaudited

  Content Type(s): Publications, Quarterly Financial Report
• August 13, 2025

  Summary of Governing Council deliberations: Fixed announcement date of July 30, 2025

  This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on July 30, 2025.

  Content Type(s): Publications, Summary of deliberations
• August 11, 2025

  Market Participants Survey—Second Quarter of 2025

  The Market Participants Survey results are based on questionnaire responses from about 30 financial market participants.

  Content Type(s): Publications, Market Participants Survey
• July 30, 2025

  Monetary Policy Report—July 2025

  

  Tariffs are significantly higher than they were at the start of 2025, and it is extremely difficult to predict how US trade policy will play out. Canadian economic activity has slowed but is showing signs of resilience. While inflation is close to 2%, underlying inflation has picked up.

  Content Type(s): Publications, Monetary Policy Report
• July 21, 2025

  Business Outlook Survey—Second Quarter of 2025

  Tariffs and related uncertainty continue to weigh on firms, according to results from the Business Outlook Survey and the Business Leaders’ Pulse. While overall sales outlooks remain weak, outlooks for exports have recovered somewhat, with worst-case trade scenarios appearing less likely. Firms remain cautious in their hiring and investment plans. Some businesses reported cost pressures from tariffs, but competition and weak demand are constraining price pass-through to customers. In this context, firms’ short-term inflation expectations are lower than they were last quarter.

  Content Type(s): Publications, Business Outlook Survey