July 31, 2026 Bank of Canada response to Canadian Labour Congress President Yesterday, Bank of Canada Governor Tiff Macklem wrote the following response to a published statement and letter from Bea Bruske, President of the Canadian Labour Congress, regarding the ongoing labour dispute involving the Bank and the union representing its Security Officers. Content Type(s): Press, Announcements
July 31, 2026 G7 2026 Cross-Border Coordination Exercise (CBCE) Media Relations Ottawa, Ontario The G7 Cyber Expert Group (CEG) successfully concluded its 2026 Cross-border coordination exercise (CBCE) on May 18, 2026. This exercise demonstrates the Group’s ongoing commitment to strengthening cyber resilience across the G7 financial sector. Content Type(s): Press, Press releases
July 29, 2026 Publication: Summary of Deliberations 13:30 (ET) A summary of monetary policy deliberations by the Governing Council for the policy decision that was announced two weeks earlier. Content Type(s): Upcoming events
July 29, 2026 Summary of Governing Council deliberations: Fixed announcement date of July 15, 2026 This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on July 15, 2026. Content Type(s): Publications, Summary of deliberations
July 29, 2026 Release of the Bank of Canada’s summary of deliberations On Wednesday, July 29, 2026, the Bank of Canada will publish a summary of the deliberations that took place ahead of its interest rate decision on July 15, 2026. Content Type(s): Press, Media advisories
July 27, 2026 Market Participants Survey—Second Quarter of 2026 The Market Participants Survey results are based on questionnaire responses from about 26 financial market participants. Content Type(s): Publications, Market Participants Survey
July 27, 2026 Release: Market Participants Survey 10:30 (ET) The Market Participants Survey is conducted quarterly. Bank of Canada staff reach out to a diverse set of participants in financial markets to gather their views on key macroeconomic and financial variables as well as on monetary policy. Content Type(s): Upcoming events
July 27, 2026 Bank of Canada publishes its 2027 schedule for policy interest rate announcements and other major publications Media Relations Ottawa, Ontario The Bank of Canada today published its 2027 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report. Content Type(s): Press, Press releases
Balancing Act: Monetary Policy Responses to Natural Disasters Staff working paper 2026-28 Tatjana Dahlhaus, Alexander Ueberfeldt, Malik Shukayev Natural disasters can create important challenges for monetary policy in resource-rich small open economies. Using a DSGE model calibrated to Canada, we show that most disasters operate as adverse supply shocks, lowering output and raising inflation, thereby creating a trade-off for monetary policy. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C1, C11, C3, C32, D, D6, D63, E, E5, E52, Q, Q5, Q54 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission, Structural challenges, Climate change
Monetary Policy in an AI-Driven Two-Speed Economy Staff working paper 2026-27 Joshua Brault, Maryam Haghighi, Jing Yang We analyze monetary policy responses to AI in a two-sector New Keynesian model, distinguishing augmentation and automation. Both reduce labor demand, requiring accommodation that creates inflation trade-offs. Automation worsens them. Aggregate inflation depends on AI’s form and breadth, making policy stabilization more complex and aggregate data potentially misleading. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, E24, E3, E31, E32, E5, E52, J, J2, J23, O, O3, O33 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission, Structural challenges, Digitalization and productivity