BOC sees "clearer signs that monetary policy is moderating spending and relieving price pressures"
BOC repeated that it " is prepared to increase the policy interest rate further if needed"
Sees inflation returning to 2% at the end of 2025 vs "mid-2025" previously
The global economy is slowing and growth is forecast to moderate further as past increases in policy rates and the recent surge in global bond yields weigh on demand
Weaker demand and higher borrowing costs are weighing on business investment
The surge in Canada’s population is easing labour market pressures in some sectors while adding to housing demand and consumption
The labour market remains on the tight side and wage pressures persist
a range of indicators suggest that supply and demand in the economy are now approaching balance
The BOC projects global GDP growth of 2.9% this year, 2.3% in 2024 and 2.6% in 2025, little changed from previously
Growth in the euro area has slowed further
BOC expects the Canadian economy to grow by 1.2% this year, 0.9% in 2024 and 2.5% in 2025
BOC repeated that it " is prepared to increase the policy interest rate further if needed"
Sees inflation returning to 2% at the end of 2025 vs "mid-2025" previously
The global economy is slowing and growth is forecast to moderate further as past increases in policy rates and the recent surge in global bond yields weigh on demand
Weaker demand and higher borrowing costs are weighing on business investment
The surge in Canada’s population is easing labour market pressures in some sectors while adding to housing demand and consumption
The labour market remains on the tight side and wage pressures persist
a range of indicators suggest that supply and demand in the economy are now approaching balance
The BOC projects global GDP growth of 2.9% this year, 2.3% in 2024 and 2.6% in 2025, little changed from previously
Growth in the euro area has slowed further
BOC expects the Canadian economy to grow by 1.2% this year, 0.9% in 2024 and 2.5% in 2025
