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We are three years into the global financial crisis, and its dynamics still dominate the economic outlook. In particular, broad forces of bank, household, and sovereign deleveraging can be expected to add to the variability and temper the pace of global economic growth in the years ahead.

This Report presents the Bank of Canada’s assessment of the trend of inflation in Canada and explains the monetary policy actions deemed necessary to keep inflation within the Bank’s inflation-control target range.

Bank of Canada Governor Stephen S. Poloz discusses the preconditions for a return to natural economic growth for Canada.

"The $20 bank note is the most widely used note," said Bank of Canada Governor David Dodge. "It accounts for almost half of all bank notes in circulation, which is why we encourage Canadians to become familiar with its design and security features.

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.

In order to achieve a full recovery, the global financial system must have continuously open markets at its core, Bank of Canada Governor Mark Carney argued today in a speech to the Canada – United Kingdom Chamber of Commerce.

The Bank of Canada today put into circulation an upgraded $10 bank note with enhanced security features. The design, colour, and theme (Remembrance and Peacekeeping) of the upgraded $10 note are the same as those of the previously issued $10 note from the Canadian Journey series.

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.

We assess the impact of COVID-19 on consumption indicators by estimating the effects of government-mandated containment measures and of the willingness of individuals to voluntarily physically distance to prevent contagion.