This special issue discusses tools used at Bank of Canada to conduct current analysis - the collection and analysis of a broad spectrum of information to form a view of current economic activity. This analysis is a key input into the Bank’s monetary policy decision-making process.
The Bank of Canada today published its 2014 schedule of key policy interest rate announcements and quarterly Monetary Policy Report (MPR) releases, and re-confirmed the scheduled announcement dates for the remainder of this year.
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
Following growth of 1.7 per cent in 2012, the Canadian economy is expected to grow by 1.8 per cent in 2013 and 2.7 percent in 2014 and 2015, and to reach full capacity in mid-2015, as anticipated in the April Report.
Responses to the summer survey provide further indications that uncertainty regarding the nature and timing of a notable improvement in growth prospects is bearing on firms’ expectations and investment decisions.