Central bankers argue that programmable digital currencies may compromise the uniformity of money. We explore this in a stylized model where programmable money arises endogenously, and differently ...

Our paper employs smartphone data to construct an improved cash access metric by accounting for both spatial agglomeration and households’ travel patterns. We find that incorporating trip-chaining ...

US trade protectionism is making the economic outlook increasingly uncertain. To assess how consumer prices may respond to ...

Governor Tiff Macklem discusses how the trade conflict with the United States has affected the Canadian economy. He explains ...

Surveying Canadians Now on to another important tool: surveys. Like other central banks, the Bank conducts a number of surveys with the financial sector. 1 The results provide us with information on ...

Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss today’s monetary policy announcement. Today, Governing Council maintained the policy interest rate at 2.75%.

Good morning. Senior Deputy Governor Carolyn Rogers and I are pleased to be here to discuss the Bank of Canada’s Financial Stability Report (FSR). Each year, the Bank assesses the stability of ...

The trade conflict is clouding firms’ outlooks The Business Outlook Survey (BOS) indicator—a summary measure of results from key questions in the BOS—reversed its upward trend this quarter and remains ...

What uncertainty means for monetary policy Let me now turn to how the Bank of Canada is navigating tariff uncertainty. At the most fundamental level, we are anchored by our monetary policy ...

What structural change looks like The economic consequences of a protracted trade conflict would be severe. But it would be a very different shock than the COVID‑19 shock. In the pandemic, we had a ...

Results from the Business Outlook Survey and the Business Leaders’ Pulse show that overall business conditions remain subdued, but firms are beginning to anticipate improvements in activity. Sales ...

The estimated range for settlement balances will evolve over time Once we resume purchasing assets to offset the growth of currency in circulation, we will aim to manage our balance sheet in a way ...