June 5, 2025 Talking to Canadians: How real-world insights shape monetary policy Remarks Sharon Kozicki C.D. Howe Institute Toronto, Ontario Deputy Governor Sharon Kozicki talks about how the Bank of Canada is using non-traditional data to better inform its monetary policy decisions. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
March 31, 2021 Toward 2021: Consultations with Canadians (March 2021) In 2021, the Bank of Canada and the federal government renewed the agreement on Canada’s monetary policy framework. To inform our discussions, the Bank conducted a broad range of public outreach activities between 2019 and 2021. This report summarizes our findings.
May 13, 2026 AI is knocking: Canada’s next productivity story Remarks Michelle Alexopoulos Ottawa Economics Association—Canadian Association for Business Economics Spring Policy Conference Ottawa, Ontario External Deputy Governor Michelle Alexopoulos discusses what we know so far about AI adoption, and what it could mean for productivity and labour markets in Canada. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economy/Economic growth, Inflation
November 8, 1995 The role of monetary conditions and the monetary conditions index in the conduct of policy Bank of Canada Review - Autumn 1995 Charles Freedman In these excerpts from a presentation to a conference in Toronto, Deputy Governor Charles Freedman analyses the way in which the monetary conditions index (MCI) enters into the Bank's thinking and actions. He describes how the Bank works in the context of a forward-looking assessment of economic developments and inflationary pressures to decide upon a desired path for the MCI that will result in a rate of inflation, six to eight quarters ahead, that is within the Bank's target band. Mr. Freedman also uses specific examples to explain how various shocks to the economy can change the Bank's desired path for monetary conditions. He describes the role that tactical considerations relating to market circumstances play regarding the timing of Bank actions to bring monetary conditions onto the desired path and emphasizes the need to give precedence to steadying nervous markets. Content Type(s): Publications, Bank of Canada Review articles
Updated Methodology for Assigning Credit Ratings to Sovereigns Staff discussion paper 2021-16 Karim McDaniels, Nico Palesch, Sanjam Suri, Zacharie Quiviger, John Walsh We update the Bank of Canada’s credit rating methodology for sovereigns, including our approach to assessing their fiscal position and monetary policy flexibility. We also explicitly consider climate-related factors. Content Type(s): Staff research, Staff discussion papers JEL Code(s): F, F3, F31, G, G2, G24, G28, G3, G32 Research Theme(s): Financial markets and funds management, Funds management, Financial system, Financial stability and systemic risk, Monetary policy, Monetary policy framework and transmission, Structural challenges, Climate change
Risk-Free Uncollateralized Lending in Decentralized Markets: An Introduction to Flash Loans Staff discussion paper 2025-6 Jack Mandin A flash loan is a special type of uncollateralized loan with zero default risk. I document the use for flash loans across major blockchains that are Ethereum-Virtual-Machine-compatible. Flash loans expand access to liquidity, and highly sophisticated actors use them for many practical applications. Content Type(s): Staff research, Staff discussion papers JEL Code(s): G, G0, G1, G2 Research Theme(s): Financial markets and funds management, Market functioning, Money and payments, Digital assets and fintech
May 27, 2005 70 Years of Central Banking in Canada Remarks David Dodge Canadian Economics Association Hamilton, Ontario The Bank opened its doors on 11 March 1935, at the height of the Great Depression, and immediately faced enormous challenges. In meeting those challenges, the new Bank of Canada drew on the experience of other, established central banks. It received valuable guidance in functions such as the issuance of bank notes, managing foreign exchange reserves, and promoting financial stability. Content Type(s): Press, Speeches and appearances, Remarks
February 9, 2017 Getting to the Core of Inflation Remarks Lawrence L. Schembri Department of Economics, Western University London, Ontario Deputy Governor Lawrence Schembri discusses the uses and measures of core inflation in the conduct of monetary policy. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economic models, Inflation, Inflation targeting framework
January 20, 2005 Bank of Canada to Upgrade $10 Bank Note Media Relations Ottawa, Ontario As part of its ongoing efforts to improve the security of Canadian bank notes, the Bank of Canada will issue a $10 note with upgraded security features beginning 18 May 2005. Content Type(s): Press, Press releases
September 11, 2009 Bank of Canada Liquidity Actions in Response to the Financial Market Turmoil Bank of Canada Review - Autumn 2009 Lorie Zorn, Carolyn A. Wilkins, Walter Engert In response to the financial crisis of 2007-09, the Bank of Canada intervened repeatedly to stabilize the financial system and limit the repercussions of the crisis on the Canadian economy. This article reviews the extraordinary liquidity measures taken by the Bank during this period and the principles that guided the Bank's interventions. A preliminary assessment of the term liquidity facilities provided by the Bank suggests that they were an important source of liquidity support for some financial institutions and, on a broader basis, served to reduce uncertainty among market participants about the availability of liquidity, as well as helping to promote a return to well-functioning money markets. Content Type(s): Publications, Bank of Canada Review articles