October 21, 2004 Release of the Monetary Policy Report Opening statement David Dodge The Canadian economy has grown faster than was projected in last April's Monetary Policy Report and the July Update, largely because of a surge in exports. It is now operating near its production capacity and continues to adjust to global economic developments. Content Type(s): Press, Speeches and appearances, Opening statements
January 22, 2014 Monetary Policy Report – January 2014 The Canadian economy is estimated to have grown by 1.8 per cent in 2013, and is projected to grow by 2.5 per cent in both 2014 and 2015, gradually returning to its full production capacity over the next two years. Content Type(s): Publications, Monetary Policy Report
October 29, 2025 Monetary Policy Report—October 2025 Canada’s economy is adjusting to tariffs and the sharp drop in demand for exports. The reconfiguration of global trade and domestic production is leading to higher costs. Total inflation has been around 2%, while underlying inflation remains about 2½%. Content Type(s): Publications, Monetary Policy Report
Capital-Goods Imports and US Growth Staff working paper 2018-1 Michele Cavallo, Anthony Landry Capital-goods imports have become an increasing source of growth for the U.S. economy. To understand this phenomenon, we build a neoclassical growth model with international trade in capital goods in which agents face exogenous paths of total factor and investment-specific productivity measures. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, F, F2, F4, O, O3, O4 Research Theme(s): Models and tools, Economic models, Monetary policy, Real economy and forecasting, Structural challenges, Digitalization and productivity, International trade, finance and competitiveness
July 15, 2026 Monetary Policy Report—July 2026—Projections The outlook for Canadian growth is broadly unchanged. After a weaker-than-expected start to 2026, GDP growth is projected to be slightly stronger in 2027 and 2028. Although near-term inflation has been a bit higher than anticipated, the outlook for inflation is little changed.
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.
August 18, 2004 Bank of Canada Announces Recipients of First Law-Enforcement Award of Excellence for Counterfeit Deterrence Media Relations Toronto, Ontario Three recipients, Detective Carmine Palermo, Detective Constable Thomas Hancock, and Detective Constable Harjit Sangha, of the Toronto Police Service (TPS) Fraud Squad, have been selected for their impressive initiative and creative work on "Project Greenback". This project resulted in the seizure of approximately $3 million in counterfeit bank notes, as well as the successful dismantling of multiple counterfeit production facilities in the Toronto area. Content Type(s): Press, Press releases
Monetary Policy Transmission amid Demand Reallocations Staff working paper 2024-42 Julien Bengui, Lu Han, Gaelan MacKenzie We analyze the transmission of monetary policy during different phases of a sectoral demand reallocation episode when there are frictions to increasing production in a sector. Monetary policy is more effective in reducing inflation when a larger proportion of sectors are expanding or expect to expand in the near future. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E1, E12, E2, E24, E3, E31, E5, E52 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission, Real economy and forecasting