Uncategorized

• September 23, 2025

  CFEC Meeting (September 23, 2025)

  Content Type(s): Meetings Source(s): Canadian Foreign Exchange Committee
• September 23, 2025

  Speech by Tiff Macklem, Governor of the Bank of Canada

  On Tuesday, September 23, 2025, Tiff Macklem, Governor of the Bank of Canada, will speak before the Saskatchewan Trade and Export Partnership and the Greater Saskatoon Chamber of Commerce.

  Content Type(s): Press, Media advisories
• September 22, 2025

  Remarks by Sharon Kozicki, Deputy Governor of the Bank of Canada  

  On Monday, September 22, 2025, Sharon Kozicki, Deputy Governor of the Bank of Canada, will speak at the BIS-ECB-SUERF Online Workshop on Monetary Policy Framework.

  Content Type(s): Press, Media advisories
• September 19, 2025

  Bank of Canada updates terms and conditions governing term repo operations

  In March 2025, the Bank  restarted regular term repo operations as part of its return to normal balance sheet management.

  Content Type(s): Press, Market notices Source(s): Term repo operations

• Credit Conditions, Inflation, and Unemployment

  Staff Working Paper 2025-26 Chao Gu, Janet Hua Jiang, Liang Wang

  We identify two channels that affect the relationship between inflation and unemployment. First, inflation lowers wages because unemployed suffer more from inflation than employed, generating a positive relationship. Second, inflation increases firms’ financing costs, generating a negative relationship. Improvements in firm financing conditions can induce the relationship to switch signs.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Credit and credit aggregates, Inflation and prices, Labour markets JEL Code(s): E, E2, E24, E3, E31, E4, E44, E5, E51

• Financial Shocks and the Output Growth Distribution

  Staff Working Paper 2025-25 Francois-Michel Boire, Thibaut Duprey, Alexander Ueberfeldt

  This paper studies how financial shocks shape the distribution of output growth by introducing a quantile-augmented vector autoregression (QAVAR), which integrates quantile regressions into a structural VAR framework. The QAVAR preserves standard shock identification while delivering flexible, nonparametric forecasts of conditional moments and tail risk measures for gross domestic product.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Central bank research, Econometric and statistical methods, Financial markets, Financial stability, Monetary and financial indicators JEL Code(s): C, C3, C32, C5, C53, E, E3, E32, E4, E44, G, G0, G01
• September 18, 2025

  Keynote Speech and Fireside Chat by Ron Morrow, Executive Director of Payments, Supervision and Oversight at the Bank of Canada

  On Thursday, September 18, 2025, Ron Morrow, Executive Director of Payments, Supervision and Oversight the Bank of Canada, will deliver a keynote speech and participate in a Fireside Chat at The ONE Conference of the Chartered Professional Accountants Canada (CPA).

  Content Type(s): Press, Media advisories
• September 18, 2025

  Making change—Accelerating payments innovation

  Remarks Ron Morrow CPA The One conference Ottawa, Ontario

  Ron Morrow, Executive Director of Payments, Supervision and Oversight, talks about innovations in the payments ecosystem. He also highlights the Bank’s new role as supervisor of payment service providers.

  Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Cryptocurrencies, Digital currencies and fintech, Financial system regulation and policies, Payment clearing and settlement systems, Retail payments supervision
• September 18, 2025

  Cashing in on payments innovation

  Speech summary Ron Morrow CPA The One conference Ottawa, Ontario

  Executive Director of Payments, Supervision and Oversight Ron Morrow discusses advancements in how Canadians pay for things, and why Canada needs to do more to get ahead. He also explains the Bank of Canada’s new role as the regulator for payment service providers.

  Content Type(s): Press, Speeches and appearances, Speech summaries Research Topic(s): Cryptocurrencies, Digital currencies and fintech, Financial system regulation and policies, Payment clearing and settlement systems, Retail payments supervision
• September 17, 2025

  Bank of Canada Media Interview – WONK podcast

  Tiff Macklem, Governor of the Bank of Canada, spoke to Amanda Lang on the WONK podcast.

  Content Type(s): Press, Media advisories