February 5, 2026 Understanding structural change Speech summary Tiff Macklem Empire Club of Canada Toronto, Ontario Governor Tiff Macklem talks about structural change in the economy and explains what it means for the Bank of Canada’s monetary policy. Content Type(s): Press, Speeches and appearances, Speech summaries Subject(s): Monetary policy, Economy/Economic growth, Inflation
February 5, 2026 Bank of Canada Media Interview – Financial Post Tiff Macklem, Governor of the Bank of Canada, gave an interview to Jordan Gowling of the Financial Post. Content Type(s): Press, Media advisories
February 4, 2026 CFEC Releases Results of October 2025 Foreign Exchange Volume Survey The Canadian Foreign Exchange Committee (CFEC) released today the results of its October 2025 semi-annual survey of foreign exchange volumes in Canada. Content Type(s): Press, Market notices Source(s): Canadian Foreign Exchange Committee
Hedge funds and their trading strategies in the Government of Canada bond market Sparks at Bank article Andreas Uthemann, Adrian Walton Hedge funds are active in Canadian government bond markets and help improve market efficiency. But their trading strategies are not well understood. We offer insights into the range of strategies hedge funds use beyond the more commonly known cash-futures basis trade. We also explore the concentration of trading activity among a few large funds. Content Type(s): Staff research, Sparks at Bank article Research Theme(s): Financial markets and funds management, Market functioning, Market structure, Financial system, Financial institutions and intermediation, Financial stability and systemic risk
Understanding the resurgence of food inflation in 2025 Sparks at Bank article Olga Bilyk Inflation in grocery prices picked up in 2025, largely due to rising cost pressures that emerged in late 2024 and worked their way through supply chains. Compared with the cost pressures experienced during the COVID‑19 pandemic, these have been more limited, narrower in scope and more commonly tied to imported items. Content Type(s): Staff research, Sparks at Bank article Research Theme(s): Monetary policy, Inflation dynamics and pressures
What’s behind the slowdown in Toronto’s condo market Sparks at Bank article Benjamin Straus, Nishaad Rao Strong population growth, low interest rates and robust investor demand drove an expansion in Toronto’s condo market over the past decade. But times have changed. Toronto’s condos are no longer providing substantial returns for short-term investors because population growth has eased and interest rates have risen. This is challenging the business models of condo builders. Content Type(s): Staff research, Sparks at Bank article Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply
February 3, 2026 Sparks at Bank Sparks at Bank features insights and analysis from Bank of Canada economists and researchers. It takes its name from the intersection of Sparks and Bank streets in Ottawa where the Bank’s head office is located.
February 3, 2026 Engaging with the research community Collaborating with the research community enriches our understanding and sharpens our policy thinking by bringing in diverse perspectives and advanced research methodologies.
February 3, 2026 Research themes: Financial markets Financial markets are where savers and borrowers exchange funds. Their well-functioning is critical. This is why we study their structure, participants, regulations and how they are affected by key external changes.