Canadian businesses are increasing investment and exploring new markets as companies adjust to trade uncertainty and rapid technological change, according to Bank of Canada Governor Tiff Macklem.

Speaking in Halifax on September 21, Macklem said businesses have been adapting by adjusting supply chains, investing in new technologies, exploring new markets and hiring workers.

One notable development is the rebound in business investment. According to the Bank of Canada, business investment increased at an annualized rate of 8.8% in the second quarter of 2026, as companies looked for ways to improve productivity and respond to changing economic conditions.

Macklem also highlighted a shift among Canadian exporters. More than two-thirds of Canadian exporters surveyed by the Bank plan to expand into new markets over the next two years, with many looking beyond the United States toward Europe and the Asia-Pacific region.

The Bank says Canadian companies are also increasing their use of artificial intelligence and other technologies as they seek productivity gains.

However, renewed Canada-U.S. trade tensions and higher energy prices linked to the Middle East conflict continue to create uncertainty for businesses and households.

For Canadian companies, the coming months could therefore bring a combination of higher investment, market diversification and continued pressure to adapt to changing global trade conditions.