July 24, 2024 Monetary Policy Report—July 2024—Overview Monetary policy is working to reduce price pressures in the Canadian economy. Core inflation is expected to ease gradually, while the path of CPI inflation will be bumpy.
July 24, 2024 Monetary Policy Report Press Conference Opening Statement Opening statement Tiff Macklem Ottawa, Ontario Governor Tiff Macklem discusses the Monetary Policy Report and the key issues involved in the Governing Council’s deliberations about the policy rate decision. Content Type(s): Press, Speeches and appearances, Opening statements
July 24, 2024 Monetary Policy Report—July 2024—In focus: How newcomers impact the Canadian economy A rise in newcomer arrivals has boosted Canada’s population growth in recent years, adding to both supply and demand. Assessing how this change impacts the economy can provide insight into inflationary pressures.
July 24, 2024 Monetary Policy Report—July 2024—In focus: Drivers of inflation in core goods and services Inflation in the prices of goods excluding energy has fallen sharply across many economies, while inflation in services excluding shelter remains elevated. Examining the factors behind recent shifts can provide insights into where inflation may be headed, at least over the near term.
July 24, 2024 Monetary Policy Report – July 2024 – Risks The Bank sees two broad types of upside risks to the inflation outlook and two main downside risks, though the base-case scenario is considered the mostly likely outcome.
July 24, 2024 Monetary Policy Report—July 2024—Projections Economic growth in Canada is forecast to improve in the second half of 2024 and strengthen further in 2025 and 2026. Core inflation is expected to ease gradually, while the path of CPI inflation will be bumpy.
July 24, 2024 Monetary Policy Report—July 2024—Global economy The global economy is forecast to grow at around 3% over the projection horizon, in line with its current pace. Inflation remains above central bank targets.
July 24, 2024 Monetary Policy Report—July 2024—Canadian economy—Outlook Canada’s economic growth is forecast to increase as interest rates gradually ease and both household and business confidence rise. Inflation is projected to return to the 2% target in 2025, though the trajectory may be bumpy.
July 24, 2024 Bank of Canada interest rate announcement and release of the Monetary Policy Report On Wednesday, July 24, 2024, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. The Bank will also publish its quarterly Monetary Policy Report (MPR) at the same time as the rate decision. Content Type(s): Press, Media advisories
July 22, 2024 CFEC Releases Results of April 2024 Foreign Exchange Volume Survey The Canadian Foreign Exchange Committee (CFEC) released today the results of its April 2024 semi-annual survey of foreign exchange volumes in Canada. Content Type(s): Press, Market notices Source(s): Canadian Foreign Exchange Committee