Read a message from Governor Macklem and learn more about our planning framework and how we will be working towards our objectives.
A message from the Governor
I am pleased to share with you the Bank of Canada’s 2025–27 Strategic Plan. Three-year plans have long guided our institution―they are key to charting a clear and focused course of action and holding ourselves accountable. With each one, we carefully assess the evolving landscape in Canada and around the world. We also consider the factors that impact the lives of Canadians as we set an ambitious way forward to continue to best serve our citizens.
We have come through an unprecedented crisis and learned a great deal along the way. With the pandemic behind us and inflation near target, we are turning our attention to the future so that we can be ready for what comes next. We are navigating an increasingly complex and fast-changing economy. There are uncertainties on the global horizon, technological advancements and risks both at home and around the world, and persistent economic and financial pressures facing Canadians. But there are also opportunities to seize.
Our 2025–27 Strategic Plan aims to ensure that Canadians have both the price stability and the financial stability needed to manage the present and to plan for the future. It also aims to ensure that we can be counted on to shape and influence global economic and financial discussions to the benefit of Canadians.
We will do this by sharpening our insights and strengthening our execution. The pandemic taught us that we need to be ready to take swift and decisive policy actions in response to shocks. Making the right decisions requires the best information possible. As part of our plan, we will improve our economic models, leverage new sources of information, and focus on our research and analysis to best inform our policy decisions.
Over the next three years, we will also talk to more Canadians. We want our decisions to be informed by the diverse views and experiences of individuals, families, and businesses in our communities. That means we will increase our outreach across Canada so we can hear from more people. And we will continue to improve our communications, so we reach Canadians and help them understand what we are doing and why.
And like all successful organizations, we will innovate and embrace new developments and tools to advance and safeguard our operations. We will explore the potential of transformative technologies, leverage cutting-edge tools, and continue to enhance our resilience and ability to respond to disruptions.
The launch of our 2025–27 Strategic Plan is a time full of potential and possibility. It’s a roadmap to shape the future of Canada’s central bank, deliver a strong and stable economy and financial system, and build a prosperous Canada for all—because Canadians count on us.
Tiff Macklem
Governor
Our planning framework
Themes
The broad areas where we focus our efforts
Objectives
The goals we set for the three-year period
Outputs
The specific things we do to meet our objectives
What success looks like
The anticipated results we will use to measure our achievements
Working towards our objectives
The implementation of the Bank’s strategic plan is overseen by our Executive Council and Board of Directors, and all employees play an important role. Over the next three years, teams from across the organization will work collaboratively to advance initiatives and champion efforts that help the Bank meet its strategic objectives while continuing to focus on work related to its core functions. Along the way, we update our Board of Directors and the public on our progress. Regular progress reporting enables us to:
- assess the impact and effectiveness of our work
- determine proactively when it may be necessary to change course