The Bank of Canada has shrunk it's assets from 26% of GDP in 2020 to 8% of GDP now. Here is the chart:
As you can see from the chart, they've shed their Covid-era QE much faster than other central banks. They've now paused QT as they've a) reached their goal and b) they don't want to tighten financial conditions while Canada is dealing with the tariff crisis. Luckily they did most of their QT in 2023, pre-Trump as you can see from the chart, so they didn't really have a difficult decision to pause now.
What about the Big Four (Federal Reserve, European Central Bank, Bank of Japan and Bank of England)? Because their QE was so gargantuan, they're on a different scale and thus need their own chart:
The Federal Reserve has shrunk it's assets to about 24% of GDP, which is just below what Canada was at during it's peak. But instead of continuing to undo the covid-era QE, it's believed the Fed will announce that they are ceasing QT, under pressure from the Trump administration. So a lot of the covid-era money printing will remain in the system.
