July 13, 2022 Monetary Policy Report – July 2022 The Canadian economy is now clearly in excess demand, and inflation is high and broadening. The Bank is projecting inflation to decline to about 3% by the end of 2023, and to return to the 2% target by the end of 2024. Content Type(s): Publications, Monetary Policy Report
April 10, 2024 Monetary Policy Report – April 2024 Monetary policy is working to reduce inflationary pressures and inflation is coming down, although it will take more time to see if this progress proves durable. The Bank projects that inflation will stay around 3% into the second quarter of 2024, ease below 2.5% in the second half of the year and return to target in 2025. Content Type(s): Publications, Monetary Policy Report
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
Preferences, Monetary Policy and Household Inflation Staff working paper 2024-45 Geoffrey R. Dunbar I quantify the importance of changes in household preferences on household inflation rates using 11 years of scanner data for 11,000 US households. My results suggest that changes in household preferences are an important driver of inflation dynamics at the household level. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D1, D12, E, E5, E52, E58 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission, Monetary policy tools and implementation
October 23, 2024 Monetary Policy Report—October 2024 Monetary policy has worked to reduce price pressures in the Canadian economy. Inflation is now around 2% and is expected to remain near the middle of the Bank of Canada’s control range of 1% to 3% over the projection. Content Type(s): Publications, Monetary Policy Report
October 23, 2024 Monetary Policy Report—October 2024—Overview Monetary policy has worked to reduce price pressures in the Canadian economy. Inflation is now around 2% and is expected to remain near the middle of the Bank of Canada’s control range of 1% to 3% over the projection.
April 29, 2026 Monetary Policy Report—April 2026 The Canadian economy is expected to grow at a moderate pace as it continues to adjust to US tariffs. Inflation has moved up due to higher oil prices linked to the war in the Middle East. It is projected to then ease back to the 2% target in 2027. Content Type(s): Publications, Monetary Policy Report
April 5, 2021 Understanding how monetary policy works It takes time for our policy decisions to filter—or be transmitted—through the economy and financial system. Content Type(s): Explainers Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
November 12, 2009 New Frontiers in Monetary Policy Design Conference Proceedings held 12 and 13 November 2009 (papers in unedited, electronic format only) Content Type(s): Conferences and workshops
November 1, 1999 Money, Monetary Policy, and Transmission Mechanisms Proceedings of a conference held by the Bank of Canada, November 1999 (proceedings volume, available in electronic format only) Content Type(s): Conferences and workshops