April 10, 2024
Bank of Canada Media Interview – The Globe and Mail
Tiff Macklem, Governor of the Bank of Canada, gave an interview to Mark Rendell of The Globe and Mail.
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April 10, 2024
Bank of Canada Media Interview – Midi info
Nicolas Vincent, Deputy Governor of the Bank of Canada, gave an interview to Radio-Canada’s Alec Castonguay. The interview will air today on Midi info.
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April 10, 2024
Bank of Canada maintains policy rate, continues quantitative tightening
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. -
April 10, 2024
Monetary Policy Report – April 2024
Monetary policy is working to reduce inflationary pressures and inflation is coming down, although it will take more time to see if this progress proves durable. The Bank projects that inflation will stay around 3% into the second quarter of 2024, ease below 2.5% in the second half of the year and return to target in 2025.
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April 10, 2024
Bank of Canada interest rate announcement and release of the Monetary Policy Report
On Wednesday, April 10, 2024, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. The Bank will also publish its quarterly Monetary Policy Report (MPR) at the same time as the rate decision. -
April 10, 2024
Monetary Policy Report Press Conference Opening Statement
Governor Tiff Macklem discusses the Monetary Policy Report and the key issues involved in the Governing Council’s deliberations about the policy rate decision. -
Pricing behaviour and inflation during the COVID-19 pandemic: Insights from consumer prices microdata
Using the microdata underlying the Canadian consumer price index, we study how often and by how much firms changed their prices during the COVID-19 pandemic. We find that the surge in inflation was mainly associated with retailers raising prices much more often than before. We also find that more recently, corporate price-setting behaviour appears to be approaching pre-pandemic norms. -
April 1, 2024
The Bank of Canada releases the first quarter issues of the Business Outlook Survey and the Canadian Survey of Consumer Expectations
On Monday, April 1, 2024, the Bank of Canada will release the first quarter issue of the Business Outlook Survey and the Canadian Survey of Consumer Expectations. -
April 1, 2024
Business Outlook Survey—First Quarter of 2024
Business sentiment and sales growth expectations have stopped falling, according to firms responding to the Business Outlook Survey and the Business Leaders’ Pulse. But demand remains subdued, which is allowing price pressures and the labour market to ease. As a result, fewer firms than in the previous survey are planning unusually large or frequent price increases over the next 12 months. -
April 1, 2024
Canadian Survey of Consumer Expectations—First Quarter of 2024
Consumers believe inflation has slowed, but expectations for inflation in the near term have barely changed. Sticky inflation expectations may be due to elevated uncertainty about near-term inflation and still-high expectations for interest rates and rent costs over the next 12 months. Long-term inflation expectations have increased from low levels. Relative to last quarter, consumers now think domestic factors supporting high inflation, such as high government spending and elevated housing costs, will take longer to resolve. High inflation and high interest rates continue to impact household budgets and spending decisions, but consumers are less pessimistic about the economic outlook. After easing for several quarters, perceptions of the labour market have stabilized, and high inflation expectations continue to support stronger-than-average expectations for wage growth.