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The Bank’s new forecast calls for economic growth of 2.0 percent this year, 2.1 per cent in 2019 and 1.8 per cent in 2020.

Results of the spring Business Outlook Survey suggest that business sentiment continues to be positive, supported by healthy sales prospects. Due to recent strong demand, capacity and labour pressures are evident in most regions.

This quarter, the Bank will begin reporting on both household and business lending conditions in our expanded Senior Loan Officer Survey. Overall, household lending conditions tightened in the first quarter of 2018, driven by mortgage-related lending, while business lending conditions eased slightly.

The Annual Report outlines the Bank’s activities and achievements in 2017. It includes the financial statements and a message from Governor Stephen S. Poloz.

Growth in the Canadian economy is projected to slow from 3 per cent in 2017 to 2.2 per cent this year and 1.6 per cent in 2019.

Business sentiment in the winter Business Outlook Survey remains positive: the sales outlook is still healthy, despite some moderation. At the same time, capacity and labour pressures are becoming more apparent and are stimulating firms’ employment and investment plans.

Survey results suggest that overall business-lending conditions eased slightly in the fourth quarter. This marks the first time that lending conditions have eased since the oil price shock of 2014.