March 9, 2023 Understanding the reasons for high inflation Speech summary Carolyn Rogers Manitoba Chambers of Commerce Winnipeg, Manitoba Speaking a day after we decided to hold the policy rate, Senior Deputy Governor Carolyn Rogers talks about the factors behind high inflation and how we know inflation is falling. Content Type(s): Press, Speeches and appearances, Speech summaries Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
May 31, 2017 Research Update - May 2017 This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website. Content Type(s): Staff research, Research newsletters
January 28, 2026 Monetary Policy Report—January 2026—Canadian economy—Current conditions The Canadian economy continues to evolve as expected. Average quarterly growth was subdued in 2025, weighed down by US tariffs and slowing population growth. CPI inflation remains near the 2% target.
May 11, 2017 Why Is Global Business Investment So Weak? Some Insights from Advanced Economies Bank of Canada Review - Spring 2017 Robert Fay, Justin-Damien Guénette, Martin Leduc, Louis Morel Various drivers of business investment can be used to explain the underwhelming performance of investment in advanced economies since the global financial crisis, particularly since 2014. The slow growth in aggregate demand cannot by itself explain the full extent of the recent weakness in investment, which appears to be linked primarily to the collapse of global commodity prices and a rise in economic uncertainty. Looking ahead, business investment growth is likely to remain slower than in the pre-crisis period, largely because of structural factors such as population aging. Content Type(s): Publications, Bank of Canada Review articles JEL Code(s): C, C2, C22, D, D2, D24, D8, D80, E, E2, E22, F, F0, F01, G, G3, G31
January 26, 2022 Monetary Policy Report – January 2022 The Canadian economy entered 2022 in a strong position. The Bank is forecasting growth of 4% in 2022 and about 3½ % in 2023. Content Type(s): Publications, Monetary Policy Report
Supply Drivers of US Inflation Since the COVID-19 Pandemic Staff working paper 2023-19 Serdar Kabaca, Kerem Tuzcuoglu This paper examines the contribution of several supply factors to US headline inflation since the start of the COVID-19 pandemic. We identify six supply shocks using a structural VAR model: labor supply, labor productivity, global supply chain, oil price, price mark-up and wage mark-up shocks. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C3, C32, E, E3, E31, E32 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Inflation dynamics and pressures
December 31, 2024 Quarterly Research Update – 2024 Q4 This newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website. Content Type(s): Staff research, Research newsletters
October 29, 2025 Monetary Policy Report—October 2025—Global economy Global growth has been resilient. But the historic rise in US tariffs is reshaping global trade, weighing on prospects for global growth and pushing up inflation in the United States.
April 29, 2026 Monetary Policy Report—April 2026—In focus— The war in the Middle East is affecting the Canadian economy in several ways. Inflation will be higher in the near term, but the magnitude and persistence of the increase is uncertain. The net impact on growth is expected to be small.