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September 21, 2026

Navigating uncertainty and adapting to change

Remarks Tiff Macklem Halifax Partnership Halifax, Nova Scotia
Governor Tiff Macklem discusses how Canadian businesses and households have adapted to structural forces. He then explores how a re-escalation in trade tensions and high energy prices are shifting risks and considers the implications for monetary policy.

Modeling Fluctuations in the Global Demand for Commodities

Staff working paper 2018-4 Lutz Kilian, Xiaoqing Zhou
It is widely understood that the real price of globally traded commodities is determined by the forces of demand and supply. One of the main determinants of the real price of commodities is shifts in the demand for commodities associated with unexpected fluctuations in global real economic activity.
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