Benchmarks for assessing labour market health: 2025 update Staff analytical note 2025-17 Fares Bounajm, Tessa Devakos We provide an update on the state of the labour market, which has moved into modest excess supply. We also explore why wage growth measures remain elevated and how US trade policy could affect different parts of the labour market. We update the range of benchmarks in our dashboard of indicators. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E2, J, J2, J3, J6 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Real economy and forecasting, Structural challenges, Demographics and labour supply, International trade, finance and competitiveness
October 18, 2007 Monetary Policy Report – October 2007 There have been a number of significant economic and financial developments since the time of the July Monetary Policy Report Update. Content Type(s): Publications, Monetary Policy Report
July 21, 2025 Business Outlook Survey—Second Quarter of 2025 Tariffs and related uncertainty continue to weigh on firms, according to results from the Business Outlook Survey and the Business Leaders’ Pulse. While overall sales outlooks remain weak, outlooks for exports have recovered somewhat, with worst-case trade scenarios appearing less likely. Firms remain cautious in their hiring and investment plans. Some businesses reported cost pressures from tariffs, but competition and weak demand are constraining price pass-through to customers. In this context, firms’ short-term inflation expectations are lower than they were last quarter. Content Type(s): Publications, Business Outlook Survey
Pricing behaviour and inflation during the COVID-19 pandemic: Insights from consumer prices microdata Staff analytical note 2024-6 Olga Bilyk, Mikael Khan, Olena Kostyshyna Using the microdata underlying the Canadian consumer price index, we study how often and by how much firms changed their prices during the COVID-19 pandemic. We find that the surge in inflation was mainly associated with retailers raising prices much more often than before. We also find that more recently, corporate price-setting behaviour appears to be approaching pre-pandemic norms. Content Type(s): Staff research, Staff analytical notes JEL Code(s): D, D2, D22, E, E3, E31, L, L1, L11 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Real economy and forecasting
June 10, 2021 The digital transformation and Canada’s economic resilience Remarks (delivered virtually) Timothy Lane Advocis Western Canada Chapters Edmonton, Alberta, Vancouver, British Columbia, Winnipeg, Manitoba Deputy Governor Tim Lane talks about the Bank’s latest interest rate announcement and discusses how the digital transformation has supported resilience through the pandemic and may be adding to the economy’s growth potential. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Currency, Digital currency, Financial system, Fintech, Monetary policy, Economy/Economic growth, Inflation targeting framework
The new repo tri-party Canadian Collateral Management Service: Benefits to the financial system and to the Bank of Canada Staff analytical note 2025-6 Philippe Muller, Maksym Padalko The Canadian Collateral Management Service (CCMS) is a new tri-party collateral management service offered by the TMX Group and Clearstream. CCMS will enhance Canada’s financial infrastructure for securities financing transactions, including for the repurchase, or repo, market that is a core funding market in Canada. We explain the importance of the repo market and describe the benefits of the CCMS for market participants and for the Bank of Canada. Content Type(s): Staff research, Staff analytical notes JEL Code(s): G, G1, G2, G23 Research Theme(s): Financial markets and funds management, Market functioning, Financial system, Financial institutions and intermediation, Money and payments, Payment and financial market infrastructures
May 31, 2018 A Progress Report on the Economy Remarks Sylvain Leduc Association des économistes québécois and CFA Québec Québec, Québec Deputy Governor Sylvain Leduc discusses the issues that led Governing Council to hold the policy interest rate at 1.25 per cent in their May 30 decision. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
February 18, 2020 Methodology for calculating the Canadian Overnight Repo Rate Average (CORRA) The Canadian Overnight Repo Rate Average (CORRA) is a measure of the cost of overnight general collateral funding in Canadian dollars using Government of Canada (GoC) treasury bills and bonds as collateral for repurchase transactions (repos). This page describes its calculation methodology, publishing process and governance.
January 20, 2016 Monetary Policy Report Press Conference Opening Statement Opening statement Stephen S. Poloz Ottawa, Ontario Governor Stephen S. Poloz discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR. Content Type(s): Press, Speeches and appearances, Opening statements Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework