Monetary Policy Report - Bank of Canada

Latest Monetary Policy Reports

July 13, 2022

Monetary Policy Report – July 2022

Monetary Policy Report

The Canadian economy is now clearly in excess demand, and inflation is high and broadening. The Bank is projecting inflation to decline to about 3% by the end of 2023, and to return to the 2% target by the end of 2024.

Content Type(s): Publications, Monetary Policy Report

April 13, 2022

Monetary Policy Report – April 2022

Monetary Policy Report – April

Canadian economic activity remains strong, and employment is robust. The Bank is forecasting growth of about 4¼% in 2022, easing to 3¼% in 2023.

Content Type(s): Publications, Monetary Policy Report

January 26, 2022

Monetary Policy Report – January 2022

Monetary Policy Report – January

The Canadian economy entered 2022 in a strong position. The Bank is forecasting growth of 4% in 2022 and about 3½ % in 2023.

Content Type(s): Publications, Monetary Policy Report

October 27, 2021

Monetary Policy Report – October 2021

Monetary Policy Report – October

The Canadian economy is once again growing robustly, and the recovery from COVID-19 continues. The Bank is forecasting growth of around 5 percent in 2021, 4 ¼ percent in 2022 and 3 ¾ percent in 2023.

Content Type(s): Publications, Monetary Policy Report

July 14, 2021

Monetary Policy Report – July 2021

Monetary Policy Report

As the economy reopens after the third wave of COVID-19, growth should rebound strongly. The Bank is forecasting growth of about 6 percent this year, slowing to about 4 ½ percent in 2022 and 3 ¼ percent in 2023.

Content Type(s): Publications, Monetary Policy Report

April 21, 2021

Monetary Policy Report – April 2021

Monetary Policy Report – April

As the economy recovers from the COVID-19 pandemic, the Bank is forecasting growth of around 6 ½ percent this year, slowing to about 3 ¾ percent in 2022 and 3 ¼ percent in 2023.

Content Type(s): Publications, Monetary Policy Report

January 20, 2021

Monetary Policy Report – January 2021

Monetary Policy Report – January

While a second wave of COVID-19 is hurting Canadians now, the economy should rebound strongly later in the year. The Bank is forecasting growth of around 4 percent this year and close to 5 percent in 2022.

Content Type(s): Publications, Monetary Policy Report

October 28, 2020

Monetary Policy Report – October 2020

Monetary Policy Report – October

The Bank expects Canada’s economy to grow by almost 4 percent on average in 2021 and 2022, following a decline of about 5 ½ percent in 2020.

Content Type(s): Publications, Monetary Policy Report

July 15, 2020

Monetary Policy Report – July 2020

Monetary Policy Report

The Bank expects a sharp rebound in economic activity in the reopening phase of the recovery, followed by a more prolonged recuperation phase.

Content Type(s): Publications, Monetary Policy Report

April 15, 2020

Monetary Policy Report – April 2020

Monetary Policy Report – April

Canada’s economy faces two significant shocks—the plunge in global oil prices and the impact of the COVID-19 pandemic.

Content Type(s): Publications, Monetary Policy Report