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April 12, 2023

Monetary Policy Report – April 2023

Inflation in Canada remains high but should come down quickly to around 3% in the middle of this year because of lower energy prices, improved supply chains and restrictive monetary policy. The Bank projects that inflation will reach the 2% target by the end of 2024.

Content Type(s): Publications, Monetary Policy Report

April 4, 2023

Deputy Governor Paul Beaudry to leave the Bank of Canada

Media Relations Ottawa, Ontario

The Bank of Canada announced today that Deputy Governor Paul Beaudry will leave the Bank at the end of July 2023. Mr. Beaudry will return to his academic position at the University of British Columbia.

Content Type(s): Press, Press releases

April 3, 2023

Business Outlook Survey—First Quarter of 2023

Results from the first-quarter 2023 Business Outlook Survey and the Business Leaders’ Pulse surveys from January through March 2023 show a subdued sales outlook and plans for modest growth in capital expenditures. The labour market remains tight, but pressures have eased from high levels.

Content Type(s): Publications, Business Outlook Survey

April 3, 2023

Canadian Survey of Consumer Expectations—First Quarter of 2023

Results in the first quarter of 2023 show that consumer expectations for inflation one to two years ahead fell but remain elevated, particularly for services. Consumers, especially indebted households and equity-deserving groups, are facing financial pressures and limits on their spending due to high inflation and increasing interest rates. Consumers expect to spend less on discretionary services, such as travelling and eating out. Canadians continue to anticipate a recession in the next 12 months. Many are uncertain about where the economy and job markets are going. Despite this, workers still see the labour market as strong and expect wage growth to increase.

Content Type(s): Publications, Canadian Survey of Consumer Expectations

March 29, 2023

Lessons from our support of financial markets in tough times

Speech summary Toni Gravelle National Bank Financial Services Conference Montréal, Quebec

Deputy Governor Toni Gravelle talks about how the Bank of Canada supported markets during the COVID-19 pandemic and what we might do differently in the future. He also discusses recent turmoil in the banking system in the United States and overseas.

Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Coronavirus disease (COVID-19), Financial markets, Financial stability, Lender of last resort, Recent economic and financial developments

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Speech: Greater Vancouver Board of Trade

Staff economic projections