October 9, 2025 Speech by Carolyn Rogers, Senior Deputy Governor of the Bank of Canada On Thursday, October 9, 2025, Carolyn Rogers, Senior Deputy Governor of the Bank of Canada, will speak before the Canadian Club Toronto. Content Type(s): Press, Media advisories
October 9, 2025 Prosperity through productivity Speech summary Carolyn Rogers Canadian Club Toronto Toronto, Ontario Senior Deputy Governor Carolyn Rogers discusses how productivity growth can boost Canada’s prosperity and resilience, especially in a shock-prone world. Focusing on Canada’s banking sector, she explains how competition can improve productivity. But, she warns, it comes with trade-offs that must be managed carefully. Content Type(s): Press, Speeches and appearances, Speech summaries Research Topic(s): Financial institutions, Financial services, Financial system regulation and policies, Firm dynamics, Productivity
October 9, 2025 Productivity’s competitive edge Remarks Carolyn Rogers Canadian Club Toronto Toronto, Ontario Senior Deputy Governor Carolyn Rogers discusses how productivity growth can boost Canada’s prosperity and resilience. She also outlines how upcoming financial sector reforms are designed to increase competition. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Financial institutions, Financial services, Financial system regulation and policies, Firm dynamics, Productivity
BoC–BoE Sovereign Default Database: What’s new in 2025? Staff Analytical Note 2025-24 David Beers, Obiageri Ndukwe, Joe Berry The BoC–BoE database of sovereign debt defaults, published and updated annually by the Bank of Canada and the Bank of England, provides comprehensive estimates of stocks of government obligations in default. The 2025 edition highlights a decline in the US-dollar value of sovereign debt in default and provides more data about defaults on China’s official loans. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Debt management, Development economics, Financial stability, International financial markets JEL Code(s): F, F3, F34, G, G1, G10, G14, G15
October 3, 2025 The difference between the price level and inflation Price levels are a measure of the average cost of goods and services in the economy at a particular point in time. Inflation measures the rate of change in prices over a specific period. Content Type(s): Explainers Research Topic(s): Inflation and prices, Inflation targets
Household balance sheets and mortgage payment shocks Staff Analytical Note 2025-23 Thomas Michael Pugh, Saarah Sheikh, Taylor Webley Household savings in Canada have increased significantly since 2019, especially among homeowners without a mortgage. We assess how savings buffers can mitigate households’ financial risk in relation to asset repricing, mortgage payment renewal and unemployment. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Credit and credit aggregates, Financial stability, Housing, Recent economic and financial developments JEL Code(s): D, D3, D31, E, E2, E21, G, G5, G51
The increasing role of hedge funds in Government of Canada bond auctions Staff Analytical Note 2025-22 Adam Epp, Jeffrey Gao We find that the rise in Government of Canada debt issuance correlates to growing participation of hedge funds in bond auctions since 2020. This increased participation supports the cost-effective distribution of Canada’s debt, but it also represents a potential vulnerability because hedge funds have a greater flight risk than other investor types. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Debt management, Financial institutions, Financial markets, Financial stability JEL Code(s): D, D4, D44, G, G1, G12, G2, G23, H, H6, H63
October 2, 2025 Bank of Canada Media Interview – The Craig Needles Podcast Rhys Mendes, Deputy Governor of the Bank of Canada, spoke to Craig Needles on The Craig Needles Podcast. Content Type(s): Press, Media advisories