October 3, 2025 The difference between the price level and inflation Price levels are a measure of the average cost of goods and services in the economy at a particular point in time. Inflation measures the rate of change in prices over a specific period. Content Type(s): Explainers Research Topic(s): Inflation and prices, Inflation targets
Household balance sheets and mortgage payment shocks Staff Analytical Note 2025-23 Thomas Michael Pugh, Saarah Sheikh, Taylor Webley Household savings in Canada have increased significantly since 2019, especially among homeowners without a mortgage. We assess how savings buffers can mitigate households’ financial risk in relation to asset repricing, mortgage payment renewal and unemployment. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Credit and credit aggregates, Financial stability, Housing, Recent economic and financial developments JEL Code(s): D, D3, D31, E, E2, E21, G, G5, G51
The increasing role of hedge funds in Government of Canada bond auctions Staff Analytical Note 2025-22 Adam Epp, Jeffrey Gao We find that the rise in Government of Canada debt issuance correlates to growing participation of hedge funds in bond auctions since 2020. This increased participation supports the cost-effective distribution of Canada’s debt, but it also represents a potential vulnerability because hedge funds have a greater flight risk than other investor types. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Debt management, Financial institutions, Financial markets, Financial stability JEL Code(s): D, D4, D44, G, G1, G12, G2, G23, H, H6, H63
October 2, 2025 Bank of Canada Media Interview – The Craig Needles Podcast Rhys Mendes, Deputy Governor of the Bank of Canada, spoke to Craig Needles on The Craig Needles Podcast. Content Type(s): Press, Media advisories
October 2, 2025 Bank of Canada Media Interview – Market News International Rhys Mendes, Deputy Governor of the Bank of Canada, gave an interview to Greg Quinn of Market News International. Content Type(s): Press, Media advisories
October 2, 2025 Speech: Rhys Mendes, Deputy Governor 13:40 (ET) London, ON Content Type(s): Upcoming events
October 2, 2025 Speech by Rhys Mendes, Deputy Governor of the Bank of Canada On Thursday, October 2, 2025, Rhys Mendes, Deputy Governor of the Bank of Canada, will speak before the Ivey Business School. Content Type(s): Press, Media advisories
October 2, 2025 Underlying inflation: Separating the signal from the noise Remarks Rhys R. Mendes Ivey Business School London, Ontario Deputy Governor Rhys Mendes speaks about how the Bank of Canada assesses underlying inflation, including the use of measures of core inflation. He also touches on the renewal of the monetary policy framework, which happens in 2026. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Inflation and prices, Inflation targets, Monetary policy communications, Monetary policy framework, Price stability