March 12, 2025 Bank of Canada Media Interview – La Presse Tiff Macklem, Governor of the Bank of Canada, gave an interview to La Presse’s Hélène Baril. Content Type(s): Press, Media advisories
March 12, 2025 Bank of Canada reduces policy rate by 25 basis points to 2¾% Media Relations Ottawa, Ontario The Bank of Canada today reduced its target for the overnight rate to 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. Content Type(s): Press, Press releases
March 12, 2025 Bank of Canada Interest Rate Announcement On Wednesday, March 12, 2025, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. Content Type(s): Press, Media advisories
March 12, 2025 Monetary Policy Decision Press Conference Opening Statement Opening statement Tiff Macklem Ottawa, Ontario Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the monetary policy decision. Content Type(s): Press, Speeches and appearances, Opening statements
March 12, 2025 How Canadian businesses and households are reacting to the trade conflict To better understand how the trade conflict initiated by the US administration is affecting the economic decisions of Canadians, the Bank of Canada has enhanced its consultations with businesses and households.
March 12, 2025 Appendix: Survey questions This Appendix presents the text of selected questions asked as part of surveys that the Bank of Canada conducted during the first quarter of 2025, including the Business Leaders’ Pulse, the Business Outlook Survey and the Canadian Survey of Consumer Expectations.
March 10, 2025 Price check: Inflation in Canada Sharon Kozicki, Jill Vardy, Laurence Savoie-Chabot Why prices change, and what it means for the economy. Content Type(s): Publications, The Economy, Plain and Simple Research Topic(s): Business fluctuations and cycles, Credibility, Expectations, Inflation and prices, Inflation targets, Inflation: costs and benefits, Monetary policy framework, Monetary policy transmission, Price stability
The Prudential Toolkit with Shadow Banking Staff Working Paper 2025-9 Kinda Hachem, Martin Kuncl Can regulators keep pace with banks’ creative regulatory workarounds? Our analysis unpacks the trade-offs between fixed regulations and crisis-triggered rules, showing that the latter are especially prone to circumvention—and can trigger larger, costlier bailouts. Content Type(s): Staff research, Staff working papers Research Topic(s): Financial institutions, Financial stability, Financial system regulation and policies JEL Code(s): D, D6, D62, E, E6, E61, G, G0, G01, G2, G21, G28
Estimating the inflation risk premium Staff Analytical Note 2025-9 Bruno Feunou, Gitanjali Kumar Is there a risk of de-anchoring of inflation expectations in the near term? We estimate the inflation risk premium using traditional asset pricing models to answer this question. The risk of de-anchoring is elevated compared with the period before the COVID-19 pandemic and is higher in the United States than in Canada. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Asset pricing, Econometric and statistical methods JEL Code(s): C, C2, C22, C5, C58, G, G1, G12