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April 7, 2025

Canadian Survey of Consumer Expectations—First Quarter of 2025

Overall, results of the first-quarter 2025 survey show that the escalating trade conflict with the United States is damaging consumer sentiment. Confidence in the labour market has weakened significantly, and consumers have become more pessimistic about their financial health. Although consumption plans had been improving over the past several quarters, consumers now intend to spend more cautiously given the uncertainty around the trade conflict. They expect the trade conflict to lead to a higher cost of living, and this has pushed up their inflation expectations.
March 20, 2025

Navigating tariff uncertainty

Remarks Tiff Macklem Calgary Economic Development Calgary, Alberta
Governor Tiff Macklem discusses how the US trade conflict and uncertainty is hurting business and consumer confidence. He also outlines what the Bank is doing to ensure the trade conflict doesn’t cause widespread or persistent inflation.
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