August 14, 2025 The difference between a trade surplus and a trade deficit A trade surplus and a trade deficit are both measures of a country’s balance of trade. They are a calculation of whether a country exports or imports more. Content Type(s): Explainers Research Topic(s): Inflation and prices, International topics Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth, Inflation
June 18, 2025 The impact of US trade policy on jobs and inflation in Canada Remarks Tiff Macklem St. John’s Board of Trade St. John's, Newfoundland and Labrador Governor Tiff Macklem discusses how the trade conflict with the United States has affected the Canadian economy. He explains that restoring open trade is critical for jobs and growth, and important for prices and inflation. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Expectations, Inflation and prices, International topics, Labour markets, Monetary policy and uncertainty, Recent economic and financial developments, Regional economic developments, Trade integration Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth, Inflation
June 18, 2025 Trade, jobs and inflation Speech summary Tiff Macklem St. John’s Board of Trade St. John's, Newfoundland and Labrador Governor Tiff Macklem discusses the trade conflict with the United States and how it is has affected the Canadian economy. He explains that restoring open trade is important for jobs, growth and price stability in Canada. Content Type(s): Press, Speeches and appearances, Speech summaries Research Topic(s): Expectations, Inflation and prices, International topics, Labour markets, Monetary policy and uncertainty, Recent economic and financial developments, Regional economic developments, Trade integration Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth, Inflation
June 17, 2025 Understanding our policy interest rate At the heart of the Bank of Canada’s monetary policy is the target for the overnight rate. See what it is—and what it means for you. Content Type(s): Explainers Research Topic(s): Monetary policy Subject(s): Monetary policy, Economy/Economic growth, Inflation targeting framework
June 11, 2025 What is a tariff? A tariff is a tax on imports from another country. It can increase the prices consumers and businesses pay for that good. Content Type(s): Explainers Research Topic(s): Credibility, Expectations, Inflation and prices, International topics Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
June 5, 2025 Reaching out for a clearer view of the economy Speech summary Sharon Kozicki C.D. Howe Institute Toronto, Ontario Speaking a day after we decided to keep the policy interest rate at 2.75%, Deputy Governor Sharon Kozicki discusses how we make better decisions by looking at a variety of data and talking with Canadians. Content Type(s): Press, Speeches and appearances, Speech summaries Research Topic(s): Business fluctuations and cycles, Credibility, Monetary policy and uncertainty, Recent economic and financial developments, Trade integration Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth
June 5, 2025 Talking to Canadians: How real-world insights shape monetary policy Remarks Sharon Kozicki C.D. Howe Institute Toronto, Ontario Deputy Governor Sharon Kozicki talks about how the Bank of Canada is using non-traditional data to better inform its monetary policy decisions. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Business fluctuations and cycles, Credibility, Monetary policy and uncertainty, Recent economic and financial developments, Trade integration Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
May 8, 2025 Release of the Financial Stability Report Opening statement Tiff Macklem, Carolyn Rogers Ottawa, Ontario Press conference following the release of the Financial Stability Report. Content Type(s): Press, Speeches and appearances, Opening statements Research Topic(s): Business fluctuations and cycles, Debt management, Financial institutions, Financial markets, Financial stability, Financial system regulation and policies, International financial markets, Recent economic and financial developments Subject(s): Financial system, Financial markets, Financial stability, Funds management, Monetary policy, Economy/Economic growth
March 20, 2025 Navigating tariff uncertainty Remarks Tiff Macklem Calgary Economic Development Calgary, Alberta Governor Tiff Macklem discusses how the US trade conflict and uncertainty is hurting business and consumer confidence. He also outlines what the Bank is doing to ensure the trade conflict doesn’t cause widespread or persistent inflation. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Inflation and prices, International topics, Monetary policy and uncertainty, Recent economic and financial developments, Regional economic developments, Trade integration Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
March 20, 2025 Tariffs and trade uncertainty are hurting the Canadian economy Speech summary Tiff Macklem Calgary Economic Development Calgary, Alberta Governor Tiff Macklem discusses how uncertainty about the trade war with the United States has shaken businesses and consumer confidence. He also reiterates that the Bank of Canada must ensure that high prices from tariffs do not lead to ongoing inflation. Content Type(s): Press, Speeches and appearances, Speech summaries Research Topic(s): Inflation and prices, International topics, Monetary policy and uncertainty, Recent economic and financial developments, Regional economic developments, Trade integration Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth, Inflation