December 16, 2025 Speech by Tiff Macklem, Governor of the Bank of Canada On Tuesday, December 16, 2025, Tiff Macklem, Governor of the Bank of Canada, will speak before The Chamber of Commerce of Metropolitan Montreal. Content Type(s): Press, Media advisories
December 16, 2025 Good money and your central bank Remarks Tiff Macklem The Chamber of Commerce of Metropolitan Montreal Montréal, Quebec Governor Tiff Macklem discusses the Bank of Canada’s role in ensuring the stability of money in all its forms, from currency to digital payments. He also outlines how keeping inflation low and stable ensures Canadian money retains its purchasing power. Content Type(s): Press, Speeches and appearances, Remarks
December 16, 2025 Money you can count on Speech summary Tiff Macklem The Chamber of Commerce of Metropolitan Montreal Montréal, Quebec Governor Tiff Macklem discusses the Bank of Canada’s role in ensuring Canadians can trust their money in all its forms. Content Type(s): Press, Speeches and appearances, Speech summaries
December 16, 2025 Careers Take a central role at the Bank of Canada with our current opportunities and scholarships.
Pulse check: Measuring underlying inflation and its drivers Staff analytical note 2025-29 Luis Uzeda This note presents PULSE, a new measure of underlying inflation in Canada based on a dynamic factor model estimated on disaggregated inflation data. PULSE captures the persistent component of inflation and decomposes it into broad-based and sector-specific inflationary pressures. Content Type(s): Staff research, Staff analytical notes JEL Code(s): C, C5, C55, E, E3, E31, E5, E52 Research Theme(s): Financial system, Financial system regulation and oversight, Models and tools, Econometric, statistical and computational methods, Monetary policy, Inflation dynamics and pressures
United in Booms, Divided in Busts: Regional House Price Cycles and Monetary Policy Staff working paper 2025-36 Ulrich Roschitsch, Hannes Twieling This paper shows that regional disparities in house price growth are more pronounced during house price busts than during booms. To explain this observation we construct a two-region currency union model incorporating a housing sector and extrapolative belief updating regarding house prices. To solve the model, we propose a new method that efficiently handles extrapolative belief updating in a wide class of structural models. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E3, E31, E32, E5, E52, F, F4, F45 Research Theme(s): Monetary policy, Monetary policy framework and transmission, Real economy and forecasting