December 19, 2025 Supervisory policy for online marketplaces This supervisory policy sets out the Bank’s approach to online marketplaces and explains when their activities fall within the scope of the Retail Payment Activities Act. Content Type(s): Retail payments supervision materials, Supervisory policies Subject(s): Retail payments supervision, Holding funds, Registration
Inflation Expectations in Action: Exploring Agents’ Behaviour in a Period of High Inflation Staff discussion paper 2025-18 Naveen Rai, Hayley Touchburn, Matt West Inflation expectations are important to monetary policy decision-makers. Using survey evidence, we examine how firms and consumers react to their inflation expectations during the post-pandemic period of high inflation. Content Type(s): Staff research, Staff discussion papers JEL Code(s): C, C8, C83, D, D8, D84, E, E3, E31
December 17, 2025 Refused or revoked registrations Search the list of payment services providers (PSPs) with refused or revoked registrations.
Estimating the Costs of Electronic Retail Payment Networks: A Cross-Country Meta Analysis Staff discussion paper 2025-17 Cam Donohoe, Youming Liu We explore how many electronic funds transfer (EFT) systems can viably coexist within a jurisdiction at efficient scale by estimating the cost curve of the average EFT. We estimate the marginal cost to be approximately $0.55 per transaction, and the fixed cost to be approximately $83 million per year. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E4, E42, E5, E58, H, H5, H54
December 16, 2025 Radio Canada Tiff Macklem, Governor of the Bank of Canada. Interview with Zone économie on Radio-Canada. Content Type(s): Press, Media activities
December 16, 2025 Bank of Canada Media Interview – Zone économie Tiff Macklem, Governor of the Bank of Canada, gave an interview to Radio-Canada’s Gérald Fillion. The interview will air today on Zone économie. Content Type(s): Press, Media advisories