October 2, 2026 Breaking down the costs of building new housing To make housing more affordable, Canada needs to build more homes. Monetary policy plays an indirect role in increasing housing supply, but it is only one piece of a much larger puzzle. Content Type(s): Explainers Subject(s): Monetary policy, Economy/Economic growth
How Do Import Tariffs Affect Aggregate Prices? Theory and Evidence from Canada Staff working paper 2026-36 Christian Bustamante, Xing Guo, Lu Han, Soyoung Lee, Gaelan MacKenzie, Mariel Yacolca Maguiña, Jacob Short Using Canadian firm-level market shares and an oligopolistic model, the paper shows that a 25% counter-tariff on U.S. imports raises Canada's aggregate price index by 0.66%, far below direct cost pass-through predictions due to consumer substitution and markup adjustments. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E3, E31, F, F1, F13, F14, L, L1, L11, L16 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Structural challenges, International trade, finance and competitiveness
The Production Network Amplification of Retaliatory Tariffs Staff working paper 2026-35 Christian Bustamante, Xing Guo, Lu Han, Soyoung Lee, Gaelan MacKenzie, Mariel Yacolca Maguiña, Jacob Short We develop a framework to quantify how tariff changes on imported goods affect sectoral and aggregate consumption prices through direct and production-network channels. Using Canada's input-output matrix and administrative firm-good import data for the universe of Canadian firms, we estimate price elasticities for tariffs on U.S.-imported goods. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D5, D57, E, E3, E31, F, F1, F13, F14 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Structural challenges, International trade, finance and competitiveness
October 1, 2026 Bank of Canada Media Interview – The Missing Middle podcast Bank of Canada Senior Deputy Governor Carolyn Rogers gave an interview to The Missing Middle podcast. Content Type(s): Press, Media advisories
October 1, 2026 Speech by Carolyn Rogers, Senior Deputy Governor of the Bank of Canada On Thursday, October 1, 2026, Carolyn Rogers, Senior Deputy Governor of the Bank of Canada, will speak before the Greater Victoria Chamber of Commerce and CFA Society Victoria. Content Type(s): Press, Media advisories
October 1, 2026 Canada’s housing affordability dilemma Remarks Carolyn Rogers Greater Victoria Chamber of Commerce and CFA Society Victoria Victoria, British Columbia Senior Deputy Governor Carolyn Rogers discusses housing affordability, focusing on how it became such a challenge over time and why there are no easy solutions. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
October 1, 2026 The complexity of housing affordability Speech summary Carolyn Rogers Greater Victoria Chamber of Commerce and CFA Society Victoria Victoria, British Columbia Senior Deputy Governor Carolyn Rogers talks about housing affordability and why it is so difficult to fix, explaining that housing has become about more than just a place to live. Content Type(s): Press, Speeches and appearances, Speech summaries Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework