December 9, 2021 Keeping our eyes on inflation Speech summary Toni Gravelle Surrey Board of Trade Surrey, British Columbia Deputy Governor Toni Gravelle talks about the Bank of Canada’s decision yesterday to leave the policy rate unchanged. He explains the link between supply bottlenecks and high inflation and why the Bank thinks both will ease over time. Content Type(s): Press, Speeches and appearances, Speech summaries Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
November 22, 2023 Ending the pain of high inflation Remarks Tiff Macklem Saint John Region Chamber of Commerce Saint John, New Brunswick Bank of Canada Governor Tiff Macklem explains how high inflation is hurting Canadians and how monetary policy is working to bring inflation back to target. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
Natural disasters and inflation in Canada Staff analytical note 2025-8 Thibaut Duprey, Victoria Fernandes How do storms, floods and wildfires affect consumer prices? In the short term, natural disasters can significantly increase volatility in Canada-wide inflation. Over the long term, natural disasters influence inflation in shelter prices, especially when provincial output is already weak relative to trend. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E3, E31, Q, Q5, Q54 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Structural challenges, Climate change
Inflation Expectations in Action: Exploring Agents’ Behaviour in a Period of High Inflation Staff discussion paper 2025-18 Naveen Rai, Hayley Touchburn, Matt West Inflation expectations are important to monetary policy decision-makers. Using survey evidence, we examine how firms and consumers react to their inflation expectations during the post-pandemic period of high inflation. Content Type(s): Staff research, Staff discussion papers JEL Code(s): C, C8, C83, D, D8, D84, E, E3, E31 Research Theme(s): Monetary policy, Inflation dynamics and pressures
Segmented Inflation Dynamics (SID): Identifying Trend Inflation from the Price Index Staff analytical paper 2026-43 André Binette, Colleen Smith This note presents Segmented Inflation Dynamics (SID), a data-driven tool for assessing trend inflation. SID uses time-series segmentation to divide the price index into contiguous segments with stable inflation rates. Based on data through December 2025, SID indicates that Canada’s trend inflation has been near 2 percent since early 2024. Content Type(s): Staff research, Staff analytical paper JEL Code(s): C, C2, C22, E, E3, E31, E5, E52 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Inflation dynamics and pressures
March 21, 2005 Inflation Targeting: A Canadian Perspective Remarks David Dodge National Association for Business Economics Washington, D.C. The invitation is timely, given that the Bank of Canada's inflation-targeting agreement with the Canadian government is up for renewal next year. At the Bank, we are always reflecting on our framework, deciding what works well and what we can improve. Against that backdrop, we have watched with interest the debate taking place here in the United States - inside and outside the Federal Reserve - about whether that institution should join the ranks of inflation-targeting central banks. Content Type(s): Press, Speeches and appearances, Remarks
February 24, 1998 Inflation-Control Targets Extended Media Relations The Bank of Canada today released a joint statement of the Government of Canada and the Bank of Canada on the extension of the inflation-control targets. Content Type(s): Press, Press releases
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
Digitalization and Inflation: A Review of the Literature Staff analytical note 2017-20 Karyne B. Charbonneau, Alexa Evans, Subrata Sarker, Lena Suchanek In the past few years, many have postulated that the possible disinflationary effects of digitalization could explain the subdued inflation in advanced economies. In this note, we review the evidence found in the literature. We look at three main channels. Content Type(s): Staff research, Staff analytical notes JEL Code(s): D, D2, D22, E, E3, E31, L, L8, L81, O, O3, O33 Research Theme(s): Financial markets and funds management, Market structure, Monetary policy, Inflation dynamics and pressures, Structural challenges, Digitalization and productivity
Bending the Curves: Wages and Inflation Staff analytical note 2018-15 Dany Brouillette, Madigan Dockrill, Helen Lao, Laurence Savoie-Chabot As economic slack continues to be absorbed and the labour market tightens, wage growth and inflation could increase faster than expected, which would suggest convexity in their Phillips curves. This note investigates whether there is convexity in the Phillips curves for Canadian wage growth and inflation by testing different empirical approaches over the post-inflation-targeting period. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E2, E24, E3, E31, J, J3 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Real economy and forecasting