October 25, 2023
News
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October 16, 2023
Business Outlook Survey—Third Quarter of 2023
Results from the Business Outlook Survey for the third quarter of 2023, along with those from the July, August and September 2023 Business Leaders’ Pulse surveys suggest that on balance, firms are still planning to make larger and more frequent price increases than they did before the COVID-19 pandemic. Further, businesses' outlook for demand has continued to weaken as higher interest rates impact the economy. -
October 16, 2023
Canadian Survey of Consumer Expectations—Third Quarter of 2023
Consumers’ perceptions of current inflation remain elevated and are diverging from actual inflation. Perceptions of high inflation are also leading to persistently high expectations for inflation over the next 12 months. Consumers’ expectations for interest rates one year from now also remain high, and many consumers believe that the impacts of higher interest rates on their household spending are far from over. Homeowners with a variable-rate mortgage are more likely than other consumers to report being worse off due to high interest rates. Consumers’ plans to purchase services, such as vacations or concerts, are more widespread than plans to make major purchases of goods that are likely to be financed with loans, such as vehicles or appliances. Workers are reporting signs of job market cooling, such as more time spent looking for a new job, but they remain confident about the labour market. -
October 13, 2023
Bank of Canada designates additional prominent payment systems
Bank of Canada Governor Tiff Macklem has designated Visa Inc.’s VisaNet, Mastercard International Inc.’s Global Clearing Management System and Single Message System, and Interac Corp.’s Inter-Member Network as prominent payment systems under the Payment Clearing and Settlement Act, effective October 16, 2023. -
October 3, 2023
How price setting influences inflation
Deputy Governor Nicolas Vincent talks about how companies set their prices, how those practices changed during the pandemic and why this remains a risk for inflation. -
September 20, 2023
Summary of Governing Council deliberations: Fixed announcement date of September 6, 2023
This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on September 6, 2023. -
September 19, 2023
Household differences and monetary policy
Deputy Governor Sharon Kozicki talks about how differences in debt, income and savings across households shaped their experience through the COVID-19 pandemic and how this is affecting monetary policy now. -
September 7, 2023
Staying the course
Speaking a day after we decided to maintain the policy interest rate at 5%, Governor Tiff Macklem explores some key factors behind the decision. He also explains why the 2% inflation target supports a stable economy and greater prosperity for households and businesses. -
September 6, 2023
Bank of Canada maintains policy rate, continues quantitative tightening
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. -
August 31, 2023
Bank of Canada launches the 2024 Fellowship Program awards
The Bank of Canada is inviting Canadian universities to nominate exceptional academics for its 2024 Fellowship and Governor’s awards.