To: Inflation Watchers From: Jeremy Kronick and Steve Ambler Date: November 3, 2026 Re: Last Week’s Rate Hike Arrived Too Early The Bank of Canada raised its policy rate to 2.5 percent last week, and while we understand the thinking, we believe the Bank should have held steady given the available data and the current climate of extreme uncertainty. […]
Published in Financial PostBy John Lester Federal politicians trying to identify underperforming programs during the current “comprehensive spending review” have likely been surprised by how little help they get from evaluation reports prepared by public servants. Their expectations would have been higher given the abundant resources allocated to assessing programs. Evaluations haven’t made much of […]
Published in the Globe and Mail The Bank of Canada raised its policy rate to 2.5 per cent on Wednesday morning. We understand the thinking. However, given the available data and the current climate of extreme uncertainty, we believe the bank should have held rates steady. First, let’s look at how Governor Tiff Macklem telegraphed […]
October 22, 2026 – The C.D. Howe Institute’s Monetary Policy Council (MPC) calls for the Bank of Canada to keep its target for the overnight rate, its benchmark policy interest rate, at 2.25 percent at its next announcement on October 28, increase it to 2.5 percent by next April, and to 2.75 percent by next October. The MPC is chaired by Jeremy Kronick, the Institute’s President […]
October 14, 2026 – Canada has the highest household debt in the G7, but the country is not facing a systemic debt crisis, according to a new report from the C.D. Howe Institute. Instead, financial strain is concentrated among particular groups of Canadians. In “Beyond the Headlines: Where Canada’s Household Debt Problem Lies,” authors Mawakina […]
Le 14 octobre 2026 – Le Canada affiche le niveau d’endettement des ménages le plus élevé du G7, mais cet endettement ne constitue pas une crise systémique, selon un nouveau rapport de l’Institut C.D. Howe. Les difficultés financières sont plutôt concentrées au sein de certains groupes de Canadiens. Dans « Beyond the Headlines: Where Canada’s […]
by Mawakina Bafale and Peter MacKenzie Canada’s high household debt warrants concern, but the aggregate data do not point to a systemic debt crisis. The debt-service ratio (DSR), a more timely measure of financial strain than the debt-to-income ratio, has eased from its 2023 peak and sits slightly below its pre-pandemic level. Canada’s DSR is […]
Life science foreign direct investment (FDI) into the United States surged to $83.3 billion in 2025 as manufacturers moved production stateside amid tariff and pricing pressures. Canada also posted its strongest year since 2017 at $2.2 billion, more than double its 2024 level. But Canada’s gains pale next to the US boom: Canada attracted less […]
What would Alberta gain by leaving Canada – and what could it lose? As calls for Alberta independence gain attention, former Alberta premier Jason Kenney and economist Charles St-Arnaud join Michael Hainsworth to examine the economic, political and practical consequences of separation.
What would Alberta gain by leaving Canada – and what could it lose? As calls for Alberta independence gain attention, former Alberta premier Jason Kenney and economist Charles St-Arnaud join Michael Hainsworth to examine the economic, political and practical consequences of separation.
Mortgages taken out in 2020 and 2021, when five-year Government of Canada bond yields – the most popular fixed mortgage rate – were below 1 percent, are coming up for renewal (some already have). These renewals are set to occur in a vastly different environment, with the five-year yield now at 3.7 percent. This increase […]
From: Charles St-Arnaud To: Alberta referendum voters Date: September 21, 2026 Re: The Important Monetary Policy Considerations for a Seceding Alberta This Memo is part of a series the C.D. Howe Institute is presenting to better inform the public about the policy issues and complexities of the potential separation of Alberta, and its consequences on Albertans, businesses, […]
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To: Inflation Watchers From: Jeremy Kronick and Steve Ambler Date: November 3, 2026 Re: Last Week’s Rate Hike Arrived Too Early The Bank of Canada raised its policy rate to 2.5 percent last week, and while we understand the thinking, we believe the Bank should have held steady given the available data and the current climate of extreme uncertainty. […] 
Published in Financial PostBy John Lester Federal politicians trying to identify underperforming programs during the current “comprehensive spending review” have likely been surprised by how little help they get from evaluation reports prepared by public servants. Their expectations would have been higher given the abundant resources allocated to assessing programs. Evaluations haven’t made much of […] 
Published in the Globe and Mail The Bank of Canada raised its policy rate to 2.5 per cent on Wednesday morning. We understand the thinking. However, given the available data and the current climate of extreme uncertainty, we believe the bank should have held rates steady. First, let’s look at how Governor Tiff Macklem telegraphed […] 
October 22, 2026 – The C.D. Howe Institute’s Monetary Policy Council (MPC) calls for the Bank of Canada to keep its target for the overnight rate, its benchmark policy interest rate, at 2.25 percent at its next announcement on October 28, increase it to 2.5 percent by next April, and to 2.75 percent by next October. The MPC is chaired by Jeremy Kronick, the Institute’s President […] 
October 14, 2026 – Canada has the highest household debt in the G7, but the country is not facing a systemic debt crisis, according to a new report from the C.D. Howe Institute. Instead, financial strain is concentrated among particular groups of Canadians. In “Beyond the Headlines: Where Canada’s Household Debt Problem Lies,” authors Mawakina […] 
Life science foreign direct investment (FDI) into the United States surged to $83.3 billion in 2025 as manufacturers moved production stateside amid tariff and pricing pressures. Canada also posted its strongest year since 2017 at $2.2 billion, more than double its 2024 level. But Canada’s gains pale next to the US boom: Canada attracted less […] 
What would Alberta gain by leaving Canada – and what could it lose? As calls for Alberta independence gain attention, former Alberta premier Jason Kenney and economist Charles St-Arnaud join Michael Hainsworth to examine the economic, political and practical consequences of separation. 
Mortgages taken out in 2020 and 2021, when five-year Government of Canada bond yields – the most popular fixed mortgage rate – were below 1 percent, are coming up for renewal (some already have). These renewals are set to occur in a vastly different environment, with the five-year yield now at 3.7 percent. This increase […] 
From: Charles St-Arnaud To: Alberta referendum voters Date: September 21, 2026 Re: The Important Monetary Policy Considerations for a Seceding Alberta This Memo is part of a series the C.D. Howe Institute is presenting to better inform the public about the policy issues and complexities of the potential separation of Alberta, and its consequences on Albertans, businesses, […]