Background materials

• June 17, 2025

  About the Bank of Canada’s balance sheet

  At the Bank of Canada, our balance sheet reflects the unique role we play as Canada’s central bank. Get an overview of how it’s used to acquire assets and support our core functions, and learn about the types of assets and liabilities we hold.

  Content Type(s): Background materials
• January 17, 2025

  Review of the Bank of Canada’s Exceptional Policy Actions During the Pandemic: Executive summary

  This review looks at the effectiveness of the Bank’s exceptional policy actions during the pandemic. It also draws several lessons that will help shape future decisions should these tools be needed again.

  Content Type(s): Background materials
• May 8, 2023

  Backgrounder on removing the past sales growth question from the Business Outlook Survey

  In the first quarter of 2023, Bank staff removed the question on past sales growth from the BOS questionnaire. This backgrounder outlines the reasons for the change and discusses its implications.

  Content Type(s): Background materials
• February 24, 2023

  The lifespan of a bank note

  At the Bank of Canada, we assessed the life cycle of bank notes to confirm that polymer notes have a smaller environmental footprint than paper notes. Polymer notes have a longer life and then are recycled.

  Content Type(s): Background materials Research Topic(s): Bank notes
• February 14, 2023

  About the Bank’s interest earnings

  The Bank of Canada’s balance sheet reflects the unique role it plays as Canada’s central bank. It is different from the balance sheets of other financial institutions—the assets and liabilities on the Bank’s balance sheet are intended to support its core functions rather than to generate profit.

  Content Type(s): Background materials
• September 28, 2022

  Bank of Canada response to detailed review report

  The Bank of Canada thanks the International Monetary Fund (IMF) for undertaking its thorough and thoughtful pilot review of the Bank under the new Central Bank Transparency Code (CBTC). We welcome the publication of this final review report by the IMF Mission Team and the associated recommendations.

  Content Type(s): Background materials
• May 24, 2022

  An Overview of Lynx, Canada’s High-Value Payment System

  This document provides an overview of Lynx—Canada’s high-value payment system—and summarizes the system’s design. It explains the development and purpose of Lynx as well as the legal and regulatory framework governing its operation. It also describes the various settlement mechanisms and processes Lynx uses to allow system participants to meet their diverse payment needs while ensuring that risks that arise in the system are managed appropriately.

  Content Type(s): Background materials Research Topic(s): Payment clearing and settlement systems
• April 4, 2022

  Backgrounder on the Business Outlook Survey question on firms’ average expected wage increase

  Firms participating in the Business Outlook Survey (BOS) are asked several questions about labour markets. One such question is whether they expect wage growth to increase or decrease over the next 12 months. The responses to this question, combined with related confidential comments, give a picture of the state of wage pressures in the economy. This, along with wage data and several labour market indicators, inform the Bank about labour market conditions.

  Content Type(s): Background materials
• December 13, 2021

  Monetary Policy Framework Renewal (December 2021)

  Commentary and technical data relating to the 2021 renewal.

  Content Type(s): Background materials Research Topic(s): Inflation and prices, Monetary policy
• October 13, 2021

  Climate change and the Bank of Canada

  We’re taking steps to better understand the impacts of climate change on the economy and to reduce our environmental footprint.

  Content Type(s): Background materials Research Topic(s): Climate change