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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.

Seeking Safety

Staff working paper 2018-41 Toni Ahnert, Enrico Perotti
The scale of safe assets suggests a structural demand for a safe wealth share beyond transaction and liquidity roles. We study how investors achieve a reference wealth level by combining self-insurance and contingent liquidation of investment. Intermediaries improve upon autarky, insuring investors with poor self-insurance and limiting liquidation.

Jing Yang

Jing Yang was appointed Managing Director of the Bank of Canada’s Economic and Financial Research (EFR), effective March 25, 2024.
October 18, 2004

Debt Strategy 2005/06 Consultation Document

The government and the Bank of Canada are seeking views of Government Securities Distributors, institutional investors, and other interested parties on issues relating to the design and operation of the Government of Canada domestic debt programs for fiscal year 2005/06.
July 22, 2010

Board of Directors

The Board of Directors provides general oversight of the management and administration of the Bank with respect to strategic planning, financial and accounting matters, risk management, human resources, and other internal policies.
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