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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.

On Monday, October 20, 2025, the Bank of Canada will release the third quarter issues of the Business Outlook Survey and the Canadian Survey of Consumer Expectations.

Results from the Business Outlook Survey and the Business Leaders’ Pulse reveal that firms’ outlooks and intentions remain subdued despite a gradual improvement in sentiment. Expectations for growth in domestic and export sales are still soft. Most firms do not plan to increase staffing, and investment intentions are restrained. While businesses continue to expect cost increases from tariffs and trade uncertainty, weak demand limits their ability to pass these costs through to prices. One-year-ahead inflation expectations remain below the peak reached earlier in the trade conflict.

Results of the third-quarter 2025 survey show that tariffs and trade tensions continue to affect consumers' perceptions about their financial health and spending plans. The CSCE indicator rose modestly from its most recent low, improved by slight gains in financial health and household spending intentions. But perceptions of labour market conditions deteriorated further, driven in part by a sharp drop in job-finding prospects for public sector workers. Consumers’ short-term inflation expectations remain above their pre-pandemic averages, and expectations for longer-term inflation have picked up again.

10:30 (ET)
The Business Outlook Survey is a summary of interviews conducted by the Bank's regional offices with business leaders from about 100 firms, selected in accordance with the composition of Canada's gross domestic product. The Canadian Survey of Consumer Expectations is a quarterly survey aimed at measuring household views of inflation, the labour market and household finances, as well as topical issues of interest to the Bank of Canada.

As is customary, Tiff Macklem, Governor of the Bank of Canada, held today a virtual roundtable with journalists from the sidelines of the IMF meetings in Washington, DC.

Bank of Canada Deputy Governor Toni Gravelle will speak to Eric Robitaille of Ici Radio-Canada Première’s Le Matin du Nord at around 7:20 a.m. (ET).

Conference to be held on October 15 and 16, 2025.

On Thursday, October 16, 2025, Tiff Macklem, Governor of the Bank of Canada, will speak at the Peterson Institute for International Economics.

13:30 (ET)
Washington, DC