Publications

• July 24, 2024

  Monetary Policy Report—July 2024

  

  Monetary policy is working to reduce price pressures in the Canadian economy. Core inflation is expected to ease gradually, while the path of CPI inflation will be bumpy. Inflation returns sustainably to the 2% target in the second half of 2025.

  Content Type(s): Publications, Monetary Policy Report
• July 15, 2024

  Business Outlook Survey—Second Quarter of 2024

  Results from the Business Outlook Survey and the Business Leaders’ Pulse continue to signal weak demand, which is weighing on investment and hiring plans. While few firms are planning layoffs, labour markets are widely seen as continuing to soften. Although they remain above average, wage and inflation expectations are easing. Most firms that made abnormally large price increases in the past 12 months do not plan to do so again in the coming year.

  Content Type(s): Publications, Business Outlook Survey
• July 15, 2024

  Canadian Survey of Consumer Expectations—Second Quarter of 2024

  Consumers’ perceptions of inflation are unchanged from a quarter ago, but their expectations for near-term inflation declined significantly. While both measures have improved substantially in recent quarters, they remain higher than they were before the COVID‑19 pandemic. Most consumers continue to think that domestic factors are contributing to high inflation. Sentiment remains subdued and unchanged from last quarter, as high inflation and elevated interest rates continue to constrain people’s budgets. Perceived financial stress remains high, most consumers continue to report spending cuts, and pessimism about future economic conditions persists. Canadians’ perceptions of the labour market have weakened this quarter, especially among private sector employees. Yet overall wage growth expectations reached a new survey high, driven by public sector employees.

  Content Type(s): Publications, Canadian Survey of Consumer Expectations
• July 9, 2024

  What drives up the price of groceries

  

  Weather, energy prices, and labour and import costs all contribute to higher grocery prices

  Content Type(s): Publications, The Economy, Plain and Simple Topic(s): Exchange rates, Inflation and prices, Inflation targets, Labour markets