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Tiff Macklem, Governor of the Bank of Canada, gave an interview to Kevin Carmichael of The Logic.

On Tuesday, December 23, 2025, the Bank of Canada will publish a summary of the deliberations that took place ahead of its interest rate decision on December 10, 2025.

This letter is in reference to the letter published by the Bank of Canada on September 8, 2025, indicating that there may be unintended consequences under the Income Tax Act for Payment Service Providers (PSPs) seeking to comply with the Retail Payment Activities Act (RPAA). Specifically, the September letter noted that there could be tax consequences or administrative burden under the Income Tax Act for PSPs seeking to safeguard end-user funds using the “in trust in a trust account” method while retaining interest income on the end-user funds they hold.

Tiff Macklem, Governor of the Bank of Canada.
Interview with The Globe and Mail.

Tiff Macklem, Governor of the Bank of Canada.
Interview with Zone économie on Radio-Canada.

Tiff Macklem, Governor of the Bank of Canada, gave an interview to Radio-Canada’s Gérald Fillion. The interview will air today on Zone économie.

Tiff Macklem, Governor of the Bank of Canada, gave an interview to Mark Rendell of the Globe and Mail, which will be published online and in the newspaper.

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

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.