Overview

• Governor Tiff Macklem said the bank will publish a full outlook alongside its Oct. 29 rate decision after pausing forecasts earlier this year.
• Policymakers will weigh new inputs next week, including Bank of Canada business and consumer surveys and Statistics Canada’s September inflation report.
• Macklem described a softened labour market—despite September’s 60,000 job gain—after losses in July and August, noting that weakness informed last month’s quarter‑point cut.
• External risks remain central, with the bank monitoring potential U.S.–China tensions and next year’s review of the Canada–U.S.–Mexico Agreement for trade effects.
• Domestic policy debates continue, as Manitoba’s Jobs Agreement mandates union‑level standards and prioritizes local workers on large projects while opinion columns say rotating CUPW strikes have had limited public impact.