Canadian monetary-conditions intelligence (monthly)

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Monthly Canadian monetary-conditions intelligence from the Bank of Canada's keyless Valet web service. Each row is one month (2017-01 to the latest month with complete data across all inputs): the Bank's target for the overnight rate (policy rate, end of month, percent), Government of Canada 2-, 5- and 10-year benchmark bond yields (month-end, percent), the 2s10s and 2s5s yield-curve slopes (percentage points) with inversion flags, year-over-year CPI inflation (percent), the real policy rate (policy minus CPI, percentage points), the monthly-average USD/CAD rate with its reciprocal CAD/USD and year-over-year CAD change. A documented 0-100 monetary_restriction_score blends three history-percentile signals: the real policy rate (40%), yield-curve tightness (35%; flatter or inverted curves score tighter) and the policy-rate level (25%), with a quintile restriction_tier and hike/cut/change flags on the policy rate. Caveats: CPI and FX publish with a lag, so the latest row trails the calendar by about a month; month-end bond yields are the last daily observation of the month; the restriction score is a relative history-percentile gauge, not a forecast of Bank of Canada decisions. Coverage: Canada, monthly, 2017-01 onward. Provenance: Bank of Canada Valet (commercial reuse allowed with attribution). Primary key: month. Join keys: country_code (ISO 3166-1 alpha-3, always CAN), month. Cadence: monthly.

Source: Bank of Canada (Valet)
Rows: 115
Columns: 25
Source cadence: Monthly
Last refreshed: Sep 26, 2026
Theme: economy

Column	Type	Description
month	string	Reference month, anchored to the first of the month (ISO date). The panel covers the consistent methodology window 2017-01 onward (every curated input is complete from 2017-01). (unit: ISO date)
country_code	string	ISO alpha-3 country code (CAN for every row). (unit: ISO 3166-1 alpha-3)
policy_rate_pct	float	Target for the overnight rate (the Bank of Canada's policy interest rate), end of month, from Valet series STATIC_ATABLE_V39079. (unit: percent)
gov_2y_pct	float	Government of Canada 2-year benchmark bond yield, month-end (last daily observation of the month), from Valet series BD.CDN.2YR.DQ.YLD. (unit: percent)
gov_5y_pct	float	Government of Canada 5-year benchmark bond yield, month-end (last daily observation of the month), from Valet series BD.CDN.5YR.DQ.YLD. (unit: percent)
gov_10y_pct	float	Government of Canada 10-year benchmark bond yield, month-end (last daily observation of the month), from Valet series BD.CDN.10YR.DQ.YLD. (unit: percent)
curve_slope_2s10s_pp	float	2s10s yield-curve slope: gov_10y_pct minus gov_2y_pct. Negative = the curve is inverted. (unit: percentage points)
curve_slope_2s5s_pp	float	2s5s yield-curve slope: gov_5y_pct minus gov_2y_pct. (unit: percentage points)
inversion_flag	integer	1 when the 2s10s slope is negative (inverted curve). (unit: binary)
deep_inversion_flag	integer	1 when the 2s10s slope is at or below -1.0 percentage points (deep inversion). (unit: binary)
cpi_yoy_pct	float	Year-over-year all-items Consumer Price Index inflation ("Inflation, year-over-year percentage change"), from Valet series INDINF_CPI_M. (unit: percent)
real_policy_rate_pp	float	Real policy rate: policy_rate_pct minus cpi_yoy_pct. Positive = the policy stance is restrictive in real terms. (unit: percentage points)
usd_cad	float	Monthly-average USD/CAD exchange rate (Canadian dollars per US dollar), as published, from Valet series FXMUSDCAD. (unit: CAD per USD)
cad_usd	float	USD per Canadian dollar (1 / usd_cad); the loonie's value in US dollars. (unit: USD per CAD)
cad_yoy_pct	float	Year-over-year percent change of cad_usd. Positive = the Canadian dollar appreciated against the US dollar. Null for the first 12 window months (no 2016 history). (unit: percent)
policy_change_flag	integer	1 when the target rate moved versus the prior month. (unit: binary)
policy_change_pp	float	Month-over-month change in the target rate; 0 when unchanged. Pre-window history anchors the first window month. (unit: percentage points)
policy_change_direction	string	'hike' when the target rate rose, 'cut' when it fell, 'unchanged' otherwise.
real_rate_pct_rank	float	Mid-rank percentile (0-100) of the real policy rate over its full fetched history (1996-01 onward). 100 = the most restrictive real rate on record. (unit: 0-100 percentile)
curve_tightness_pct_rank	float	Mid-rank percentile (0-100) of the NEGATED 2s10s slope over its full fetched history (2001-01 onward), so flatter or more inverted curves rank tighter. 100 = the tightest curve on record. (unit: 0-100 percentile)
policy_level_pct_rank	float	Mid-rank percentile (0-100) of the policy-rate level over its full fetched history (1996-01 onward). 100 = the highest policy rate on record. (unit: 0-100 percentile)
monetary_restriction_score	float	Documented 0-100 composite: 0.40 * real_rate_pct_rank + 0.35 * curve_tightness_pct_rank + 0.25 * policy_level_pct_rank. Higher = tighter monetary conditions versus the Bank's own history. A relative gauge, not a forecast of Bank of Canada decisions. (unit: 0-100 score)
restriction_tier	string	Score quintile: 'very accommodative' (<20), 'accommodative' (<40), 'neutral' (<60), 'restrictive' (<80), 'very restrictive' (>=80).
source_groups	string	Comma-separated Valet group ids behind the row (row-level provenance).
row_hash	string	Deterministic 16-hex row hash of the month (idempotency).

First 10 sample rows — a preview, not the complete dataset.

month	country_code	policy_rate_pct	gov_2y_pct	gov_5y_pct	gov_10y_pct	curve_slope_2s10s_pp	curve_slope_2s5s_pp	cpi_yoy_pct	real_policy_rate_pp	usd_cad	cad_usd	cad_yoy_pct	policy_change_flag	policy_change_pp	policy_change_direction	real_rate_pct_rank	curve_tightness_pct_rank	policy_level_pct_rank	monetary_restriction_score	restriction_tier	source_groups	row_hash
2017-01-01	CAN	0.5	0.77	1.11	1.75	0.98	0.34	2.1	-1.6	1.319	0.758	—	1	—	unchanged	9.699	36.201	13.896	20.024	accommodative	ATABLE_POLICY_INSTRUMENT,FX_RATES_MONTHLY,INDINF_CPI_TABLE_MONTHLY,bond_yields_benchmark	243e97c17ba8abaa
2017-02-01	CAN	0.5	0.74	1.09	1.62	0.88	0.35	2	-1.5	1.311	0.763	—	0	0	unchanged	10.792	41.883	13.896	22.45	accommodative	ATABLE_POLICY_INSTRUMENT,FX_RATES_MONTHLY,INDINF_CPI_TABLE_MONTHLY,bond_yields_benchmark	ac1beda53c3f3ba2
2017-03-01	CAN	0.5	0.75	1.12	1.63	0.88	0.37	1.6	-1.1	1.339	0.747	—	0	0	unchanged	16.53	42.857	13.896	25.086	accommodative	ATABLE_POLICY_INSTRUMENT,FX_RATES_MONTHLY,INDINF_CPI_TABLE_MONTHLY,bond_yields_benchmark	a9a41d4276dc09fd
2017-04-01	CAN	0.5	0.72	1	1.54	0.82	0.28	1.6	-1.1	1.344	0.744	—	0	0	unchanged	16.53	46.104	13.896	26.222	accommodative	ATABLE_POLICY_INSTRUMENT,FX_RATES_MONTHLY,INDINF_CPI_TABLE_MONTHLY,bond_yields_benchmark	46b76d3c516cd894
2017-05-01	CAN	0.5	0.69	0.94	1.41	0.72	0.25	1.3	-0.8	1.361	0.735	—	0	0	unchanged	24.727	52.597	13.896	31.774	accommodative	ATABLE_POLICY_INSTRUMENT,FX_RATES_MONTHLY,INDINF_CPI_TABLE_MONTHLY,bond_yields_benchmark	960b48f6fc704ac4
2017-06-01	CAN	0.5	1.09	1.38	1.75	0.66	0.29	1	-0.5	1.33	0.752	—	0	0	unchanged	31.557	57.955	13.896	36.381	accommodative	ATABLE_POLICY_INSTRUMENT,FX_RATES_MONTHLY,INDINF_CPI_TABLE_MONTHLY,bond_yields_benchmark	bdfccfd3cc352b4d
2017-07-01	CAN	0.75	1.31	1.65	2.06	0.75	0.34	1.2	-0.45	1.269	0.788	—	1	0.25	hike	35.109	50.162	18.937	36.335	accommodative	ATABLE_POLICY_INSTRUMENT,FX_RATES_MONTHLY,INDINF_CPI_TABLE_MONTHLY,bond_yields_benchmark	83baeceedf66c9a6
2017-08-01	CAN	0.75	1.27	1.53	1.85	0.58	0.26	1.4	-0.65	1.261	0.793	—	0	0	unchanged	28.552	62.987	18.937	38.201	accommodative	ATABLE_POLICY_INSTRUMENT,FX_RATES_MONTHLY,INDINF_CPI_TABLE_MONTHLY,bond_yields_benchmark	3fa10c295d6014e1
2017-09-01	CAN	1	1.52	1.75	2.1	0.58	0.23	1.6	-0.6	1.228	0.814	—	1	0.25	hike	29.372	62.987	28.474	40.913	neutral	ATABLE_POLICY_INSTRUMENT,FX_RATES_MONTHLY,INDINF_CPI_TABLE_MONTHLY,bond_yields_benchmark	583453197b40fa64
2017-10-01	CAN	1	1.39	1.62	1.95	0.56	0.23	1.4	-0.4	1.261	0.793	—	0	0	unchanged	36.612	63.636	28.474	44.036	neutral	ATABLE_POLICY_INSTRUMENT,FX_RATES_MONTHLY,INDINF_CPI_TABLE_MONTHLY,bond_yields_benchmark	4dbc3daad3f59be0

Point any LLM at the metadata endpoint — the documentation above is machine-readable too (JSON-LD + Croissant).

cURL

curl "https://datazimuts.com/v1/datasets/boc_monetary_conditions_intel/ca_monetary_conditions_monthly" | jq '{title, rows, columns_count, license}'

Python

import requests

ds = requests.get("https://datazimuts.com/v1/datasets/boc_monetary_conditions_intel/ca_monetary_conditions_monthly").json()
print(ds["title"], ds["rows"], "rows")

# Sample rows for an LLM context window
for row in ds.get("sample_rows", [])[:5]:
    print(row)

API endpoint: https://datazimuts.com/v1/datasets/boc_monetary_conditions_intel/ca_monetary_conditions_monthly

Tip: fetch /llms.txt for the full machine-readable catalog.

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Pinned to snapshot 20260926T224211Z-15cd4d8bd4f8 and its content hash, so readers get exactly the data you used.

APA

Bank of Canada (Valet). (2026). Canadian monetary-conditions intelligence (monthly) [Data set, snapshot 20260926T224211Z-15cd4d8bd4f8, sha256 15cd4d8bd4f8]. Datazimuts. Retrieved 2026-09-26, from https://datazimuts.com/en/datasets/boc_monetary_conditions_intel/ca_monetary_conditions_monthly?snapshot=20260926T224211Z-15cd4d8bd4f8

BibTeX

@misc{dz_boc_monetary_conditions_intel_ca_monetar_15cd4d8b,
  title        = {{Canadian monetary-conditions intelligence (monthly)}},
  author       = {{Bank of Canada (Valet)}},
  year         = {2026},
  publisher    = {Datazimuts},
  howpublished = {\url{https://datazimuts.com/en/datasets/boc_monetary_conditions_intel/ca_monetary_conditions_monthly?snapshot=20260926T224211Z-15cd4d8bd4f8}},
  note         = {Snapshot 20260926T224211Z-15cd4d8bd4f8, sha256 15cd4d8bd4f8b67fd222d8201ea1e79bfd3561c3f5509beca31788fc9420591c; accessed 2026-09-26}
}

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Canadian monetary-conditions intelligence (monthly)

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