April 13, 2022
News
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April 13, 2022
Bank of Canada increases policy interest rate by 50 basis points, begins quantitative tightening
The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1¼% and the deposit rate at 1%. -
April 13, 2022
Monetary Policy Report – April 2022
Canadian economic activity remains strong, and employment is robust. The Bank is forecasting growth of about 4¼% in 2022, easing to 3¼% in 2023. -
April 4, 2022
Business Outlook Survey—First Quarter of 2022
In the first-quarter 2022 Business Outlook Survey, reports of labour-related capacity constraints and supply chain challenges remain widespread. Given these pressures and robust demand, businesses anticipate stronger price growth—and they expect the Russian invasion of Ukraine to add more cost pressures. As public health restrictions ease, firms that were hit hard during the pandemic anticipate their sales will pick up. -
April 4, 2022
Canadian Survey of Consumer Expectations—First Quarter of 2022
This survey took place in mid-February 2022 before Russia invaded Ukraine on February 24, 2022. Follow-up interviews took place in March and provide some insight into how consumers perceive the effects of the conflict. Short-term inflation expectations have reached record-high levels because of supply disruptions and the COVID 19 pandemic. Consumers think the Russian invasion of Ukraine will make high inflation worse. Despite greater concerns about inflation today, longer-term expectations have remained stable and are below pre-pandemic levels. This suggests that long-term inflation expectations remain well anchored and that survey respondents believe the current rise in inflation will not last. Although workers anticipate significant price increases in the near term, they believe their wages will increase only modestly. This is a source of dissatisfaction for them. Despite expecting higher interest rates, consumers continue to anticipate strong spending growth on a broad range of goods and services. -
March 31, 2022
Bank of Canada announces the recipients of the 2022 Fellowship Program Awards
Learn about the recipients of the Fellowship and Governor’s Awards for 2022. -
March 25, 2022
Household differences and why they matter
Deputy Governor Sharon Kozicki talks about why differences in income, wealth and debt across households are important for the economy and what the Bank of Canada will be watching for as interest rates rise. -
March 23, 2022
Bank of Canada to chair the Central Bank Network for Indigenous Inclusion in 2022
The Bank of Canada announced today it has officially begun a one-year term as chair of the Central Bank Network for Indigenous Inclusion (CBNII). -
March 16, 2022
Bank of Canada and Massachusetts Institute of Technology announce joint Central Bank Digital Currency collaboration
The Bank of Canada and the Massachusetts Institute of Technology (MIT) today announced an agreement to collaborate on a twelve-month research project on Central Bank Digital Currency (CBDC). -