July 17, 2025 Discontinuation of one-month treasury bill As announced in the 2025-26 Debt Management Strategy, the Government of Canada will be discontinuing the one-month treasury bill. This is in line with the policy intent to introduce it on a temporary basis as previously outlined in the federal 2024 Budget and a market notice. The last one-month treasury bill auction will occur on 29 July 2025. Content Type(s): Press, Market notices
July 17, 2025 How economic uncertainty disrupts investment Business investment plays a pivotal role in economic growth. Content Type(s): Publications, The Economy, Plain and Simple Research Topic(s): Expectations, International topics, Price stability, Productivity, Trade integration
July 17, 2025 Canadian Financial Sector Resiliency Group Canadian Financial Sector Resiliency Group (CFRG) is a public-private partnership led by the Bank of Canada that is designed to strengthen the financial sector’s critical infrastructure against risks to business operations, including cyber incidents. Find out about our mandate, membership, or contact us.
Synthesizing Signals from the Canadian Survey of Consumer Expectations Staff Discussion Paper 2025-11 Jacob Dolinar, Patrick Sabourin, Matt West We introduce the Canadian Survey of Consumer Expectations indicator. This indicator provides a summary measure of consumer opinions that we can track over time. We construct three underlying sub-indexes—financial health, labour market and consumer spending—that capture different factors influencing consumers’ daily lives. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Business fluctuations and cycles, Central bank research JEL Code(s): D, D1, D12, D8, D84, E, E2, E21, E3, E32, E7, E71
July 11, 2025 Retail payments supervision: Upcoming events Access a list of our information sessions—and find out how to sign up.
How will mortgage payments change at renewal? An updated analysis Staff Analytical Note 2025-21 Claudia Godbout, Adam Su, Yang Xu We update an assessment of potential changes in payments that mortgage holders could face at renewal in 2025 and 2026. We use an enhanced dataset (RESL2) that provides a more accurate starting point for mortgage balances. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Credit and credit aggregates, Financial institutions, Financial stability, Housing, Interest rates, Recent economic and financial developments JEL Code(s): D, D1, D12, D14, G, G2, G21, G28, R, R2, R20
The impact of trading flows on Government of Canada bond prices Staff Analytical Note 2025-20 Andreas Uthemann, Rishi Vala, Jun Yang Trading flows affect Government of Canada bond prices. Our estimates suggest a sale of 1% of the available supply of bonds typically lowers bond prices by 0.2%. From 2000 to 2025, demand from institutional investors, such as Canadian pension funds and foreign investors, explains 69% of quarterly price variation, with the remainder explained by changes in the supply of bonds. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Asset pricing, Debt management, Econometric and statistical methods, Financial institutions, Financial markets, Financial stability, Market structure and pricing, Sectoral balance sheet JEL Code(s): C, C0, C01, C3, C36, C5, C58, D, D5, D53, E, E6, E62, G, G1, G11, G12, G2, G23
Non-bank financial intermediation: Canada’s submission to the 2024 global monitoring report Staff Analytical Note 2025-19 Elba Gomez Navas Acevedo, Thomas Thorn We share insights about non-bank financial intermediation in Canada in 2023. These data were collected as part of the Bank of Canada’s contribution to the Financial Stability Board’s Global Monitoring Report on Non-Bank Financial Intermediation. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Financial institutions, Sectoral balance sheet JEL Code(s): G, G2, G21, G22, G23