Posts

• December 26, 2025

  Boxing Day

  National holiday

  Content Type(s): Upcoming events
• December 25, 2025

  Christmas Day

  National holiday

  Content Type(s): Upcoming events
• December 23, 2025

  Publication: Summary of Deliberations

  13:30 (ET)
  A summary of monetary policy deliberations by the Governing Council for the policy decision that was announced two weeks earlier.

  Content Type(s): Upcoming events
• December 16, 2025

  Speech: Tiff Macklem, Governor

  13:00 (ET)
  Montréal, QC

  Content Type(s): Upcoming events
• December 16, 2025

  Speech by Tiff Macklem, Governor of the Bank of Canada

  On Tuesday, December 16, 2025, Tiff Macklem, Governor of the Bank of Canada, will speak before The Chamber of Commerce of Metropolitan Montreal.

  Content Type(s): Press, Media advisories

• Pulse check: Measuring underlying inflation and its drivers

  Staff Analytical Note 2025-29 Luis Uzeda

  This note presents PULSE, a new measure of underlying inflation in Canada based on a dynamic factor model estimated on disaggregated inflation data. PULSE captures the persistent component of inflation and decomposes it into broad-based and sector-specific inflationary pressures.

  Content Type(s): Staff research, Staff analytical notes Research Topic(s): Econometric and statistical methods, Inflation and prices, Monetary policy transmission JEL Code(s): C, C5, C55, E, E3, E31, E5, E52

• United in Booms, Divided in Busts: Regional House Price Cycles and Monetary Policy

  Staff Working Paper 2025-36 Ulrich Roschitsch, Hannes Twieling

  This paper shows that regional disparities in house price growth are more pronounced during house price busts than during booms. To explain this observation we construct a two-region currency union model incorporating a housing sector and extrapolative belief updating regarding house prices. To solve the model, we propose a new method that efficiently handles extrapolative belief updating in a wide class of structural models.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Housing, Monetary policy, Monetary policy transmission JEL Code(s): E, E3, E31, E32, E5, E52, F, F4, F45
• December 10, 2025

  Appearance: Ron Morrow, Executive Director of Payments, Supervision and Oversight

  Standing Senate Committee on Banking, Commerce and the Economy
  Ottawa, Ontario
  14:00 (ET)

  Content Type(s): Upcoming events
• December 10, 2025

  Parliamentary Appearance by the Executive Director of Payments, Supervision and Oversight and the Managing Director of Supervision

  On Wednesday, December 10, 2025, Executive Director of Payments, Supervision and Oversight of the Bank of Canada, Ron Morrow, will appear before the Standing Senate Committee on Banking, Commerce and the Economy. He will be accompanied by the Managing Director of the Supervision Department, Anne Butler.

  Content Type(s): Press, Media advisories
• December 10, 2025

  Bank of Canada maintains policy rate at 2¼%

  Media Relations Ottawa, Ontario

  The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.

  Content Type(s): Press, Press releases