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Market Participants Survey

The Market Participants Survey (MPS) is conducted quarterly. Bank of Canada staff reach out to a diverse set of participants in financial markets to gather their views on key macroeconomic and financial variables as well as on monetary policy.

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About the survey

  • The MPS systematically collects quantitative and qualitative information on market participants’ views on economic scenarios and their expectations for monetary policy and financial assets for both Canada and the United States.
  • Information gathered informs Bank staff analyses and complements other Bank market intelligence activities.
  • The survey sample includes representatives from banks, dealers, pension funds, insurers and asset-management and research firms.
  • Aggregate results pertaining to Canada are published approximately two weeks after the January, April, July and October monetary policy decision announcements.
  • Most results are presented as medians or averages, with some including the 25th and 75th percentiles of responses. The number of responses is also indicated for each question.

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Latest survey results


  • Survey respondents are senior economists or strategists involved in Canadian financial markets. They commit to take part in the MPS regularly.
  • In each survey cycle, respondents are asked to complete a standardized questionnaire. Bank staff then conduct follow-up interviews with a subgroup of respondents.

List of Market Participants Survey respondents

  • Addenda Capital
  • AIMCo
  • BCA Research
  • BlackRock
  • BMO Capital Markets
  • BMO Global Asset Management
  • BofA Securities
  • British Columbia Investment Management Corporation (BCI)
  • CC&L Investment Management
  • CDPQ
  • CIBC Asset Management
  • CIBC Capital Markets
  • Citadel
  • CPP Investments
  • Desjardins Group
  • Fiera Capital
  • Healthcare of Ontario Pension Plan
  • iA Financial Group
  • Laurentian Bank Securities
  • Manulife Investment Management
  • National Bank of Canada
  • Ontario Teachers' Pension Plan
  • PSP Investments
  • RBC Capital Markets
  • RBC Global Asset Management
  • Scotiabank
  • TD Bank Group
  • TD Securities


  • Survey questions do not presume or signal any particular policy action by the Bank’s Governing Council.
  • The MPS is developed and administered by Bank of Canada staff—members of the Bank’s Governing Council are not involved in the survey design or administration.

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