October 29, 2024 Opening Statement before the House of Commons Standing Committee on Finance Opening statement Tiff Macklem House of Commons Standing Committee on Finance Ottawa, Ontario Content Type(s): Press, Speeches and appearances, Opening statements
October 29, 2024 The Bank of Canada’s 2025–27 Strategic Plan Framework Read a message from Governor Macklem, learn about our planning framework and find out how we will track our progress.
October 29, 2024 Focusing our innovation Accelerating and often disruptive, change calls for new ways of exploring ideas and solving problems. From the perspective of a central bank, this means exploring the potential of transformative technologies to change how we think and work. It also means leveraging the most advanced tools to draw novel insights from data. Meanwhile, we’ll use our leadership and expertise to ensure Canadian households and businesses can continue to participate in our economy with the utmost confidence in our bank notes and payments systems.
October 29, 2024 Canadians Count on Us: The Bank of Canada’s 2025–27 Strategic Plan The Bank of Canada’s 2025-27 strategic plan establishes our top priorities for the next three years. It presents a collective view of things we need to do—areas where our efforts are best placed to continue delivering on our promise to Canadians.
October 29, 2024 Sharpening our insights In a volatile climate, the Bank must be ready to take swift and decisive action in response to shifting circumstances. This drives us to get better at what we do, especially when it comes to honing the insights that guide our decisions. We will develop and use state-of-the-art models and analytical tools. At the same time, we will foster deeper and more nuanced conversations with individuals and businesses across the country. We are committed to equipping every area of the Bank with the best information, ensuring our actions deliver the outcomes Canadians expect from us.
October 29, 2024 Amplifying our impact To be a leading central bank, we must work beyond our own walls—taking a big-picture view as we move our priorities forward. That means ensuring our messages reach the people we are working for so that they better understand what we do and how it affects their own plans and choices. As we nurture relationships with the Bank’s domestic and international partners, we will focus on areas where we can lead, leveraging our strengths to collaborate and promote greater economic and financial stability for Canadians.
October 29, 2024 Sustaining our resilience The Bank’s operations play a crucial role in enabling our work on behalf of Canada’s economy and financial system. Moving forward, we must be nimble in our decision-making and work efficiently to fulfill our mandate. At the same time, it is critical that we maintain the continuity of our operations while safeguarding against potential disruptions and threats. We must also ensure we have timely, relevant data at our fingertips to advance the opportunities that matter most to Canadians.
October 29, 2024 Equipping our workforce for the future The Bank’s success in responding to change, and anticipating what comes next, is driven by its people. Our workforce must constantly learn and adapt to navigate the best path forward with confidence and skill. That means enhancing and reinforcing our leadership capabilities. It also means leveraging our diversity to encourage fresh ideas and different points of view. And it means fostering a shared understanding of the Bank’s distinct culture and how it shapes our efforts to carry out our strategy.
How do Canadians perceive access to cash? Staff Analytical Note 2024-24 Heng Chen, Daneal O’Habib, Hongyu Xiao This paper introduces a subjective measure of cash accessibility in Canada, complementing existing distance-based metrics developed by Chen, O’Habib and Xiao (2023). Analyzing data from the 2023 Methods-of-Payment Survey, this study explores how Canadians perceive their ease of accessing cash from automated banking machines (ABMs) and financial institution branches. Content Type(s): Staff research, Staff analytical notes Topic(s): Bank notes, Financial services, Regional economic developments JEL Code(s): J, J1, J15, O, O1, R, R5, R51