June 13, 2025 Bank of Canada Disclosure of Climate-Related Risks 2024 This report lays out elements of the Bank’s strategy related to climate change and details how the issue will be managed holistically across the organization, following the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures. Content Type(s): Publications, Disclosure of Climate-Related Risks
May 8, 2025 Financial Stability Report—2025 Tiff Macklem, Carolyn Rogers, Toni Gravelle, Sharon Kozicki, Rhys R. Mendes, Nicolas Vincent, Michelle Alexopoulos Canada’s financial system is resilient. Overall, households, businesses, banks and non-bank financial intermediaries successfully weathered the pandemic, a period of elevated inflation, and sharp increases in interest rates. But the trade war currently threatens the Canadian economy and poses risks to financial stability. Content Type(s): Publications, Financial Stability Report
May 8, 2025 Financial System Survey highlights—2025 This article presents the key results from the 2025 Bank of Canada Financial System Survey, conducted between February 10 and 28. The survey included a special section on scenarios that could lead to a severe repricing in financial markets in the near term. Content Type(s): Publications, Financial System Survey
April 30, 2025 Summary of Governing Council deliberations: Fixed announcement date of April 16, 2025 This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on April 16, 2025. Content Type(s): Publications, Summary of deliberations
April 28, 2025 Market Participants Survey—First Quarter of 2025 The Market Participants Survey results are based on questionnaire responses from about 30 financial market participants. Content Type(s): Publications, Market Participants Survey
April 16, 2025 Monetary Policy Report—April 2025 The Canadian economy ended 2024 in a strong position. However, the trade conflict and tariffs are expected to slow growth and add to price pressures. The outlook is very uncertain because of the unpredictability of US trade policy and the magnitude of its impact on the Canadian economy. Content Type(s): Publications, Monetary Policy Report
April 7, 2025 Business Outlook Survey—First Quarter of 2025 Business conditions have deteriorated due to the trade conflict with the United States, according to results from the Business Outlook Survey and the Business Leaders’ Pulse. Sales outlooks have softened, particularly for exporters. Firms reported having sufficient capacity, and many are delaying investment and hiring decisions amid uncertainty. Firms expect that widespread tariffs would raise costs and lead to higher selling prices. In this context, expectations for inflation are higher than they were last quarter. Content Type(s): Publications, Business Outlook Survey
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. Content Type(s): Publications, Canadian Survey of Consumer Expectations
March 26, 2025 Summary of Governing Council deliberations: Fixed announcement date of March 12, 2025 This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on March 12, 2025. Content Type(s): Publications, Summary of deliberations
March 17, 2025 Will asset managers dash for cash? A summary of the implications for central banks David Cimon, Jean-Philippe Dion, Jean-Sébastien Fontaine, Jabir Sandhu We consider ways central banks could adapt in the event of an increased risk of a dash for cash from asset managers. We explore ideas such as new facilities that ease asset managers’ ability to convert existing assets to cash or new assets with liquidity that central banks would guarantee. Content Type(s): Publications, Financial System Hub articles Research Topic(s): Central bank research, Coronavirus disease (COVID-19), Financial institutions, Financial markets, Financial stability, Financial system regulation and policies JEL Code(s): E, E5, E58, G, G0, G00, G01, G1, G2