Posts

• 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
• December 16, 2025

  Good money and your central bank

  Remarks Tiff Macklem The Chamber of Commerce of Metropolitan Montreal Montréal, Quebec

  Governor Tiff Macklem discusses the Bank of Canada’s role in ensuring the stability of money in all its forms, from currency to digital payments. He also outlines how keeping inflation low and stable ensures Canadian money retains its purchasing power.

  Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Currency, Bank notes, Digital currency, Monetary policy, Inflation targeting framework
• December 16, 2025

  Money you can count on

  Speech summary Tiff Macklem The Chamber of Commerce of Metropolitan Montreal Montréal, Quebec

  Governor Tiff Macklem discusses the Bank of Canada’s role in ensuring Canadians can trust their money in all its forms.

  Content Type(s): Press, Speeches and appearances, Speech summaries Subject(s): Currency, Bank notes, Digital currency, Monetary policy, Inflation targeting framework

• 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 JEL Code(s): C, C5, C55, E, E3, E31, E5, E52 Research Theme(s): Financial system, Financial system regulation and oversight, Models and tools, Econometric, statistical and computational methods, Monetary policy, Inflation dynamics and pressures

• 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 JEL Code(s): E, E3, E31, E32, E5, E52, F, F4, F45 Research Theme(s): Monetary policy, Monetary policy framework and transmission, Real economy and forecasting
• 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
• December 10, 2025

  Monetary Policy Decision Press Conference Opening Statement

  Opening statement Tiff Macklem Ottawa, Ontario

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

  Content Type(s): Press, Speeches and appearances, Opening statements
• December 10, 2025

  Bank of Canada Interest Rate Announcement

  On Wednesday, December 10, 2025, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision.

  Content Type(s): Press, Media advisories