November 10, 1995 The Government of Canada bond market since 1980 Bank of Canada Review - Autumn 1995 Andrew Branion This article focusses on a key component of the federal government's debt-management program, Government of Canada marketable bonds. It first provides a broad overview of the characteristics of these bonds and then discusses the workings of the domestic market, from the formulation of a debt-management strategy to the primary issuance of the bonds, the delivery and payment process, and transactions in the secondary market. Recent developments that have enhanced the overall efficiency of the market are also examined. This article is part of a series that describes and analyses features of the Canadian financial sector. Content Type(s): Publications, Bank of Canada Review articles
December 16, 2024 Delivering price stability: Learning from the past, preparing for the future Remarks Tiff Macklem Greater Vancouver Board of Trade Vancouver, British Columbia Governor Tiff Macklem reflects on the lessons learned from the pandemic and its aftermath and outlines how the Bank is preparing for the challenges of the future. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
April 17, 2013 Monetary Policy Report – April 2013 Following growth of 1.8 per cent in 2012, the Canadian economy is expected to grow by 1.5 per cent in 2013, 2.8 percent in 2014 and 2.7 in 2015, and to reach full capacity in mid-2015, later than anticipated in the January Report. Content Type(s): Publications, Monetary Policy Report
October 30, 2024 Opening Statement before the Senate Standing Committee on Banking, Commerce and the Economy Opening statement Tiff Macklem Senate Standing Committee on Banking, Commerce and the Economy Ottawa, Ontario Content Type(s): Press, Speeches and appearances, Opening statements
April 1, 2026 Summary of Governing Council deliberations: Fixed announcement date of March 18, 2026 This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on March 18, 2026. Content Type(s): Publications, Summary of deliberations
October 25, 2005 Bank of Canada Review - Autumn 2005 Cover page Ready References The book is part of the National Currency Collection, Bank of Canada. Photography by Gord Carter, Ottawa. Content Type(s): Publications, Bank of Canada Review
February 6, 2007 Promoting Stability, Confidence and Well-being Remarks David Longworth Greater Kitchener Waterloo Chamber of Commerce Waterloo, Ontario The strengths of the twin cities - in research, advanced manufacturing, and information technology, among other sectors - are well known. Less well known, perhaps, is the region's success in responding effectively to changes in the world economy. Content Type(s): Press, Speeches and appearances, Remarks
July 30, 2025 Monetary Policy Report—July 2025—Overview US tariffs are significantly higher than they were at the start of 2025, and US trade policy remains unpredictable. Inflation is near 2%, although underlying price pressures have picked up. With uncertainty about US trade policy still high, the outlook for the Canadian economy remains clouded.
November 19, 2002 Purchasing-Power Parity: Definition, Measurement, and Interpretation Bank of Canada Review - Autumn 2002 Robert Lafrance, Lawrence L. Schembri This article examines the concept of purchasing-power parity (PPP) and its implications for the equilibrium value of the Canadian exchange rate. PPP has two main applications, as a theory of exchange rate determination and as a means to compare living standards across countries. Concerning exchange rate determination, PPP is mainly useful as a reminder that monetary policy has no long-run impact on the real exchange rate, since the exchange rate can deviate persistently from its PPP value in response to real shocks. To compare living standards across countries, PPP exchange rates constructed by comparing the prices of national consumption baskets are used to translate per capita national incomes into a common currency. These rates are useful because they offset differences in national price levels to obtain comparable measures of purchasing power, but they are not an accurate measure of the equilibrium value of the exchange rate. The authors conclude that the current deviation of the Canadian exchange rate from the PPP rate does not imply that the exchange rate is undervalued, but that this deviation reflects the impact of persistent real factors, in particular, lower commodity prices. Content Type(s): Publications, Bank of Canada Review articles
An Alternative Estimate of Canadian Potential Output: The Multivariate State-Space Framework Staff discussion paper 2018-14 Lise Pichette, Maria Bernier, Marie-Noëlle Robitaille In this paper, we extend the state-space methodology proposed by Blagrave et al. (2015) and decompose Canadian potential output into trend labour productivity and trend labour input. As in Blagrave et al. (2015), we include output growth and inflation expectations from consensus forecasts to help refine our estimates. Content Type(s): Staff research, Staff discussion papers JEL Code(s): C, C5, E, E0, E5 Research Theme(s): Models and tools, Economic models, Monetary policy, Real economy and forecasting