April 16, 2025 Monetary Policy Report—April 2025 The Canadian economy ended 2024 in a strong position. However, the trade conflict and tariffs are expected to slow growth and add to price pressures. The outlook is very uncertain because of the unpredictability of US trade policy and the magnitude of its impact on the Canadian economy.
April 16, 2025 Monetary Policy Report—April 2025—Global economy At the end of 2024, global economic growth was solid, and inflation had eased further toward central banks’ targets. Since then, the United States has imposed large and broad-based tariffs on most of its trading partners.
April 16, 2025 Monetary Policy Report—April 2025—Appendix Canada’s potential output growth is anticipated to slow due to declining population growth and the ongoing trade conflict. The range for Canada’s neutral interest rate lies between 2.25% and 3.25%.
April 16, 2025 Monetary Policy Report—April 2025—In focus—How removing the consumer carbon tax affects inflation The removal of the consumer carbon tax will temporarily lower inflation and result in a one-time reduction in the level of consumer prices, mostly reflecting a decline in gasoline prices.
April 16, 2025 Bank of Canada interest rate announcement and release of the Monetary Policy Report On Wednesday, April 16, 2025, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. The Bank will also publish its quarterly Monetary Policy Report (MPR) at the same time as the rate decision. Content Type(s): Press, Media advisories
April 16, 2025 Monetary Policy Report—January 2025—Canadian economy—Current conditions Inflation was near the 2% target in the fourth quarter of 2024, and interest rate cuts had bolstered economic growth. But since then, the trade conflict has intensified. Trade uncertainty and tariffs are expected to slow growth and add to price pressures.
April 16, 2025 CIMPA Meeting (April 16, 2025) Content Type(s): Meetings Source(s): Collateral Infrastructure and Market Practices Advisory Group
April 15, 2025 Enforcement process This supervisory policy outlines the Bank of Canada’s enforcement process and what individuals, entities and payment service providers should expect if the Bank takes enforcement action against them. Content Type(s): Retail payments supervision materials, Supervisory policies Research Topic(s): Enforcement
April 7, 2025 Canadian Survey of Consumer Expectations—Survey Data View data from the Canadian Survey of Consumer Expectations (CSCE)—a quarterly survey aimed at measuring household views of inflation, the labour market and household finances.
April 7, 2025 Business Outlook Survey—First Quarter of 2025 Business conditions have deteriorated due to the trade conflict with the United States, according to results from the Business Outlook Survey and the Business Leaders’ Pulse. Sales outlooks have softened, particularly for exporters. Firms reported having sufficient capacity, and many are delaying investment and hiring decisions amid uncertainty. Firms expect that widespread tariffs would raise costs and lead to higher selling prices. In this context, expectations for inflation are higher than they were last quarter. Content Type(s): Publications, Business Outlook Survey