News

• June 30, 2023

  Exploring global value and supply chains

  

  Patrick Alexander, Chris D'Souza, Yuko Imura, Lena Suchanek

  The things we buy come out of complex production chains that span the globe. Understanding these connections is crucial for today's economies.

  Content Type(s): Publications, The Economy, Plain and Simple Research Topic(s): Business fluctuations and cycles, Firm dynamics, International topics, Trade integration
• June 30, 2023

  Canada’s regional economies

  

  David Amirault, Matthieu Verstraete, Sarah Miller

  Strength from diversity

  Content Type(s): Publications, The Economy, Plain and Simple Research Topic(s): Business fluctuations and cycles, Labour markets, Regional economic developments, Trade integration
• June 30, 2023

  Business Outlook Survey—Second Quarter of 2023

  Results from the Business Outlook Survey for the second quarter of 2023, along with those from the April, May and June 2023 Business Leaders’ Pulse surveys, suggest that capacity pressures remain elevated and expectations of significant price increases continue to be widespread. Firms anticipate that sales growth will begin to moderate from exceptionally high rates as signs of greater uncertainty emerge.

  Content Type(s): Publications, Business Outlook Survey
• June 30, 2023

  Canadian Survey of Consumer Expectations—Second Quarter of 2023

  Inflation expectations for one to two years ahead have come down again but remain well above their levels from before the COVID-19 pandemic. The higher cost of living is the most pressing concern for consumers, and along with elevated interest rates, continues to constrain most households’ spending. Homeowners who are planning to renew their mortgage over the next two years and who expect significantly higher payments are likely to plan spending cuts. Some households though are starting to think the worst is behind them. Consumer confidence about the future of the economy has improved alongside their lower inflation expectations. Expected lower interest rates and strong immigration, which boosts housing demand, are behind consumers’ view that housing market will increase over the next year. Workers remain confident about jobs.

  Content Type(s): Publications, Canadian Survey of Consumer Expectations
• June 21, 2023

  Summary of Governing Council deliberations: Fixed announcement date of June 7, 2023

  This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on June 7, 2023.

  Content Type(s): Publications, Summary of deliberations
• June 8, 2023

  Adjusting to higher interest rates

  Speech summary Paul Beaudry Greater Victoria Chamber of Commerce Victoria, British Columbia

  Speaking a day after we raised interest rates, Deputy Governor Paul Beaudry talks about what Governing Council considered in its decision. He also suggests reasons why long-term interest rates could remain higher than they were before the COVID-19 pandemic.

  Content Type(s): Press, Speeches and appearances, Speech summaries Research Topic(s): Central bank research, Coronavirus disease (COVID-19), Domestic demand and components, Expectations, Housing, Inflation and prices, Inflation targets, Interest rates, Labour markets, Monetary policy, Monetary policy transmission, Price stability, Recent economic and financial developments, Service sector
• June 7, 2023

  Bank of Canada raises policy rate 25 basis points, continues quantitative tightening

  Media Relations Ottawa, Ontario

  The Bank of Canada today increased its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%.

  Content Type(s): Press, Press releases
• May 25, 2023

  New exhibition Money in 10 Questions: Kids Edition opens at the Bank of Canada Museum

  Media Relations Ottawa, Ontario

  The Bank of Canada Museum is inviting children to visit a new exhibition that is inspired by questions they have about money. Money in 10 Questions: Kids Edition is a play-based experience that helps children understand money and how to handle it. The exhibit opens to the public on May 25 and includes special activities for families.

  Content Type(s): Press, Press releases
• May 23, 2023

  Bank of Canada Museum announces 2023 recipients of Award for Excellence in Teaching Economics

  Media Relations Ottawa, Ontario

  The Bank of Canada Museum is honouring two outstanding educators for their exceptional work in teaching students about the economy.

  Content Type(s): Press, Press releases
• May 18, 2023

  Release of the Financial System Review

  Opening statement Tiff Macklem, Carolyn Rogers Ottawa, Ontario

  Press conference following the release of the Financial System Review.

  Content Type(s): Press, Speeches and appearances, Opening statements Research Topic(s): Financial institutions, Financial markets, Financial stability, Financial system regulation and policies, Interest rates, International financial markets, Recent economic and financial developments, Wholesale funding