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Real GDP in Canada is expected to grow by 1.9 per cent in 2015 and 2.5 per cent in 2016 and by 2.0 per cent in 2017.

In the spring Business Outlook Survey, lower oil prices continue to dampen the overall sales outlook of firms, weighing on investment and hiring intentions. However, a majority of businesses are benefiting from the strong economic outlook in the United States and the boost in competitiveness from the weaker Canadian dollar.

The survey results indicate that, overall, business-lending conditions were broadly unchanged during the first quarter of 2015, but tightened for the oil and gas sector.”

In 2014, inflation remained very close to target, the economy grew at a reasonable pace and there was no material increase in financial stability risks. Nonetheless, the economy still struggled against significant global headwinds. The 2014 Annual Report highlights the Bank of Canada’s key activities and achievements over the year, including a message from Governor Stephen S. Poloz, Management’s Discussion and Analysis, and the 2014 Financial Statements.