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156 Results

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.
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.
September 23, 2025

Global trade, capital flows and Canada’s prosperity

Remarks Tiff Macklem Saskatchewan Trade and Export Partnership and the Greater Saskatoon Chamber of Commerce Saskatoon, Saskatchewan
Governor Tiff Macklem discusses four megatrends that are transforming the global economic and financial landscape. He outlines how US tariffs are affecting the Canadian economy and what structural changes are needed to ensure Canada’s prosperity.
September 23, 2025

Time to roll up our sleeves

Speech summary Tiff Macklem Saskatchewan Trade and Export Partnership and the Greater Saskatoon Chamber of Commerce Saskatoon, Saskatchewan
Governor Tiff Macklem outlines four megatrends that are transforming the global economic and financial landscape. He also talks about the structural reform needed to ensure Canada’s long-term prosperity.

Assessing global potential output growth: April 2025

This note presents the annual update of Bank of Canada staff estimates for growth in global potential output. These estimates served as key inputs to the analysis supporting the April 2025 Monetary Policy Report.
Content Type(s): Staff research, Staff analytical notes Research Topic(s): Potential output, Productivity JEL Code(s): E, E1, E2, F, F0, F1, O, O3, O33, O4

Potential output in Canada: 2025 assessment

We explore two scenarios for potential output growth to gain insights into the economic consequences associated with different possible trade policies. Scenario 1 includes limited US tariffs on Canadian exports. Scenario 2 adds a permanent, broad-based 25% increase in US tariffs on imports from all countries excluding Canada and Mexico.

The Shift in Canadian Immigration Composition and its Effect on Wages

Staff Discussion Paper 2025-8 Julien Champagne, Antoine Poulin-Moore, Mallory Long
We document recent changes in Canadian immigration, marked by an increasing prevalence of temporary residency. Using microdata from Statistics Canada's Labour Force Survey, we show that temporary workers' characteristics and nominal wages have diverged from those of Canadian-born workers.
Content Type(s): Staff research, Staff discussion papers Research Topic(s): Labour markets, Productivity JEL Code(s): J, J2, J20, J24, J6, J61

Assessing the Impact of Demographic Composition on Productivity

Staff Discussion Paper 2025-3 Justin-Damien Guénette, Lin Shao
We examine how demographic factors influence potential output, focusing on how the age distribution of the working-age population and the old-age dependency ratio affect aggregate productivity. Following Feyrer (2007), we emphasize that the contribution to aggregate productivity varies by age group, with middle-aged individuals (aged 40 to 49) being the most productive.
Content Type(s): Staff research, Staff discussion papers Research Topic(s): International topics, Potential output, Productivity JEL Code(s): J, J1, J11, O, O4, O47, O5, O51
February 21, 2025

Trade conflict: What can the Bank of Canada do?

Speech summary Tiff Macklem Mississauga Board of Trade-Oakville Chamber of Commerce Mississauga, Ontario
Governor Tiff Macklem discusses how a trade conflict would affect the Canadian economy and monetary policy. He also outlines what the Bank of Canada is focusing on as it renews its monetary policy framework.
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