Estimating the Costs of Electronic Retail Payment Networks: A Cross-Country Meta Analysis Staff Discussion Paper 2025-17 Cam Donohoe, Youming Liu We explore how many electronic funds transfer (EFT) systems can viably coexist within a jurisdiction at efficient scale by estimating the cost curve of the average EFT. We estimate the marginal cost to be approximately $0.55 per transaction, and the fixed cost to be approximately $83 million per year. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Financial institutions, Financial system regulation and policies, Payment clearing and settlement systems JEL Code(s): E, E4, E42, E5, E58, H, H5, H54
December 16, 2025 Bank of Canada Media Interview – Zone économie Tiff Macklem, Governor of the Bank of Canada, gave an interview to Radio-Canada’s Gérald Fillion. The interview will air today on Zone économie. Content Type(s): Press, Media advisories
December 16, 2025 Bank of Canada Media Interview – The Globe and Mail Tiff Macklem, Governor of the Bank of Canada, gave an interview to Mark Rendell of the Globe and Mail, which will be published online and in the newspaper. Content Type(s): Press, Media advisories
December 16, 2025 Speech: Tiff Macklem, Governor 13:00 (ET) Montréal, QC Content Type(s): Upcoming events
December 16, 2025 Speech by Tiff Macklem, Governor of the Bank of Canada On Tuesday, December 16, 2025, Tiff Macklem, Governor of the Bank of Canada, will speak before The Chamber of Commerce of Metropolitan Montreal. Content Type(s): Press, Media advisories
December 16, 2025 Good money and your central bank Remarks Tiff Macklem The Chamber of Commerce of Metropolitan Montreal Montréal, Quebec Governor Tiff Macklem discusses the Bank of Canada’s role in ensuring the stability of money in all its forms, from currency to digital payments. He also outlines how keeping inflation low and stable ensures Canadian money retains its purchasing power. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Bank notes, Cryptoassets, Cryptocurrencies, Digital currencies and fintech, Financial institutions, Financial services, Financial system regulation and policies, Monetary policy framework, Payment clearing and settlement systems, Retail payments supervision