October 16, 2023
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October 16, 2023
Consumers’ perceptions of current inflation remain elevated and are diverging from actual inflation. Perceptions of high inflation are also leading to persistently high expectations for inflation over the next 12 months. Consumers’ expectations for interest rates one year from now also remain high, and many consumers believe that the impacts of higher interest rates on their household spending are far from over. Homeowners with a variable-rate mortgage are more likely than other consumers to report being worse off due to high interest rates. Consumers’ plans to purchase services, such as vacations or concerts, are more widespread than plans to make major purchases of goods that are likely to be financed with loans, such as vehicles or appliances. Workers are reporting signs of job market cooling, such as more time spent looking for a new job, but they remain confident about the labour market.
Canadian Survey of Consumer Expectations—Third Quarter of 2023
Content Type(s):
Publications,
Canadian Survey of Consumer Expectations
October 13, 2023
Bank of Canada designates additional prominent payment systems
Bank of Canada Governor Tiff Macklem has designated Visa Inc.’s VisaNet, Mastercard International Inc.’s Global Clearing Management System and Single Message System, and Interac Corp.’s Inter-Member Network as prominent payment systems under the Payment Clearing and Settlement Act, effective October 16, 2023.
Content Type(s):
Press,
Press releases
October 3, 2023
How price setting influences inflation
Deputy Governor Nicolas Vincent talks about how companies set their prices, how those practices changed during the pandemic and why this remains a risk for inflation.
Content Type(s):
Press,
Speeches and appearances,
Speech summaries
Topic(s):
Firm dynamics,
Inflation and prices,
Price stability
September 20, 2023
This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on September 6, 2023.
Summary of Governing Council deliberations: Fixed announcement date of September 6, 2023
Content Type(s):
Publications,
Summary of deliberations