Search

The authors examine the recent evolution of commodity prices. They discuss the factors behind the price declines that occurred between the summer of 1997 and the end of 1998, including the key supply factors and the drop in Asian demand caused by that region's concurrent financial and economic crisis. They then review the effects of the reduction in world commodity prices on economic activity in Canada. They point out that the depreciation of the Canadian dollar against the U.S. dollar, together with the continued strength of the U.S. economy, has partly offset the negative effects on Canadian aggregate demand.

Inflation expectations are important to monetary policy decision-makers. Using survey evidence, we examine how firms and consumers react to their inflation expectations during the post-pandemic period of high inflation.

This report investigates how the markets for repurchase agreements and securities-lending agreements support the liquidity of Canadian bond markets. It also discusses how recent regulatory changes, as well as low interest rates and settlement failures, are potentially affecting securities-financing markets and, as a result, bond market liquidity.

Finance Minister Bill Morneau and Bank of Canada Governor Stephen S. Poloz today unveiled the new $10 bank note featuring Viola Desmond during a ceremony at the Halifax Central Library.

This report lays out elements of the Bank’s strategy related to climate change and details how the issue will be managed holistically across the organization, following the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures.

Today, the Canadian Alternative Reference Rate working group (CARR) published a set of documents that will help support the transition of the Canadian loan market from the Canadian Dollar Offered Rate (CDOR) to the Canadian Overnight Repo Rate Average (CORRA).

Deputy Governor Toni Gravelle discusses the latest interest rate decision along with how immigration helps Canada’s economy and how it impacts inflation.

Overall, results of the second-quarter 2025 survey show that the CSCE indicator—a measure developed to summarize the opinions of Canadian consumers—declined again this quarter as spending intentions continued to weaken due to the persistent threats of tariffs and related uncertainty. Consumers still see the labour market as soft, and their fear of job loss is elevated. The trade conflict is leading consumers to become increasingly cautious about their spending plans and to change their spending behaviour. Consumers’ short-term inflation expectations have changed little since increasing markedly in the first quarter of 2025. This quarter, more consumers cited tariffs as the most important factor affecting the Bank of Canada’s ability to control inflation.

In November 2000, the Bank of Canada introduced a new system of eight "fixed" or pre-specified dates each year for announcing any changes to the official interest rate it uses to implement monetary policy. This paper describes the basic features of the proposed approach, elaborates its key advantages and identifies issues for consultation.

We develop an algorithm that extracts information about sale and repurchase agreements (repos) from disaggregated settlement data in order to generate a new historical dataset for research.