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13:30 (ET)
A summary of monetary policy deliberations by the Governing Council for the policy decision that was announced two weeks earlier.

National holiday

09:45 (ET)
On eight scheduled dates each year, the Bank of Canada announces the setting for the overnight rate target in a press release explaining the factors behind the decision.

National holiday

13:30 (ET)
A summary of monetary policy deliberations by the Governing Council for the policy decision that was announced two weeks earlier.

10:30 (ET)
The Market Participants Survey is conducted quarterly. Bank of Canada staff reach out to a diverse set of participants in financial markets to gather their views on key macroeconomic and financial variables as well as on monetary policy.

Provincial holiday: Alberta, British Columbia, Nova Scotia and Ontario

09:45 (ET)
On eight scheduled dates each year, the Bank of Canada announces the setting for the overnight rate target in a press release explaining the factors behind the decision. Four times a year, Governing Council presents the Monetary Policy Report: the Bank’s base-case projection for inflation and growth in the Canadian economy, and its assessment of risks.

Tariffs and related uncertainty continue to weigh on firms, according to results from the Business Outlook Survey and the Business Leaders’ Pulse. While overall sales outlooks remain weak, outlooks for exports have recovered somewhat, with worst-case trade scenarios appearing less likely. Firms remain cautious in their hiring and investment plans. Some businesses reported cost pressures from tariffs, but competition and weak demand are constraining price pass-through to customers. In this context, firms’ short-term inflation expectations are lower than they were last quarter.

On Monday, July 21, 2025, the Bank of Canada will release the second quarter issues of the Business Outlook Survey and the Canadian Survey of Consumer Expectations.