Good afternoon. It’s a pleasure to be back home in Montréal, especially at this time of year. And it is wonderful to see so many of you again. My final speech of the year is always an opportunity to reflect on the year that was and to look ahead to the year to come. This year, 2025, was marked by the US swerve to protectionism and the resulting upheaval in global trade. It’s a story about uncertainty, and about the loss of trust in our trade relationship with our biggest and best partner. As I look to the year ahead, trust and stability will be critical themes. At its core, the role of the Bank of Canda is to ... (full story)

The Bank’s job is to maintain trust in Canada’s money—whether bank notes or digital money in your bank accounts. We do this by issuing currency that is easy to authenticate and hard to counterfeit. We also do this by supervising the country’s payment systems to ensure they’re stable and efficient. That way, your money is safe and secure wherever it is— in your pocket, in your bank account or when making payments. The Bank is designing advanced anti-counterfeiting features for the next bank note to be issued in 2027, a vertical $20 note featuring King Charles III. We are also supervising the systems that move digital ... (full story)