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Governor Tiff Macklem talks about how geopolitical, economic and social forces are changing global trade. He also discusses how Canada can benefit from trade shifts and prepare for future supply shocks.

The Bank of Canada is inviting Canadian universities to nominate exceptional academics for its 2025 Governor’s Award. For this 2025 nomination period, we are not accepting applications for the Fellowship Award as all awards are currently held.

The Bank of Canada today reduced its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%.

Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the policy rate decision.

Higher productivity helps keep prices down and wages up. It gives workers more money to spend and increases the value they get when they spend it. And it allows businesses to weather cost increases without having to raise prices. All together, these factors drive economic growth.