December 22, 2005 70 Years of Central Banking: The Bank of Canada in an International Context, 1935–2005 Bank of Canada Review - Winter 2005-2006 Michael Bordo, Angela Redish Bordo and Redish examine the evolution of central banking over the past 70 years and identify periods where Canada was either a notable innovator with regard to central banking practices or appeared to be following a slightly different course. They note that global forces seemed to play an important role in determining inflation outcomes throughout the 70-year period, and that Canada and the United States experienced roughly similar inflation rates despite some important differences in their monetary policy regimes. Canada, for example, was comparatively late in establishing a central bank, launching the Bank of Canada long after most other industrial countries had one. Canada also operated under a flexible exchange rate through much of the Bretton Woods period, unlike any other country in the 1950s and early 1960s; adopted inflation targets well before most other central banks; and introduced a number of other innovative changes with regard to the implementation of monetary policy in the 1990s. Content Type(s): Publications, Bank of Canada Review articles
April 29, 2026 Monetary Policy Report—April 2026—Projections The outlook for Canadian economic growth in 2026 and 2027 is evolving generally as anticipated. Inflation is expected to increase in 2026 due to higher gasoline prices caused by the war in the Middle East. It will then ease in 2027 as oil prices are assumed to moderate.
July 30, 2025 Monetary Policy Report—January 2025—Canadian economy—Outlook Tariffs and trade uncertainty are expected to weigh on Canadian economic activity for some time. Inflation remains close to the 2% target over the scenario horizon.
November 20, 1996 Monetary Policy Report – November 1996 This Report outlines recent developments in the Canadian economy that affect the rate of inflation and provides an account of the measures taken by the Bank of Canada to control inflation. Content Type(s): Publications, Monetary Policy Report
July 14, 2021 Monetary Policy Report 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 policy rate decision and the MPR. Content Type(s): Press, Speeches and appearances, Opening statements
July 15, 2026 Monetary Policy Report—July 2026—In focus—War‑related supply disruptions are passing through to consumer prices The conflict in the Middle East has generated both direct and indirect cost pressures that continue to feed through supply chains. These cost pressures are material for the inflation outlook.
September 19, 2023 Rebalancing the economy while managing risks Remarks Sharon Kozicki University of Regina Regina, Saskatchewan Bank of Canada Deputy Governor Sharon Kozicki talks about how household differences have affected the way that monetary policy is transmitted. She also discusses how the Bank is considering the role of mortgage interest costs in inflation. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
Assessing tariff pass-through to consumer prices in Canada: Lessons from 2018 Staff analytical note 2025-18 Alexander Lam US trade protectionism is making the economic outlook increasingly uncertain. To assess how consumer prices may respond to tariffs, we examine a tariff episode from 2018 using detailed microdata and the synthetic control method. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E3, E30, E31, F, F1, F10, F13, F14 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Structural challenges, International trade, finance and competitiveness
October 23, 2024 Monetary Policy Report—October 2024—Global economy Overall, global economic growth continues to evolve as expected. However, the composition of that growth has changed.
April 12, 2023 Monetary Policy Report 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 policy rate decision and the MPR. Content Type(s): Press, Speeches and appearances, Opening statements