Tiff Macklem

New Capabilities

Overseeing the RTR's safety and reliability

On November 9, customers of eight Canadian financial institutions gained the ability to send money that arrives in seconds, at any hour, any day of the year. Payments Canada switched on the Real-Time Rail (RTR), a national system that clears and settles payments instantly instead of over hours or days.

Updated 2 days ago

Money Moves

Raised the policy rate to 2.5% on October 28, the first increase since July 2023

Canada's unemployment rate rose to a six-month high in October, Economy News reported on November 6. The increase followed back-to-back job losses in August and September that erased the gains made earlier in 2026.

Updated 2 days ago

Rule Changes

Governor

Canada's central bank will keep aiming for 2% inflation for another five years. On Nov. 5, the Bank of Canada and the federal government renewed the monetary policy framework, holding the target at the midpoint of a 1% to 3% range through the end of 2031.

Updated 2 days ago

Money Moves

Leading a hiking cycle into a stalling economy

Canada's economy produced the same output in August as it did in July. The month before, output was flat too. Statistics Canada's advance estimate now points to a 0.1% contraction in September, and payrolls fell by 49,600 in August.

Updated Oct 30