A quarterly report of the Bank of Canada’s Governing Council, presenting the Bank’s base-case projection for inflation and growth in the Canadian economy, and its assessment of risks.
The Canadian economy continues to operate just above its full production capacity, and the near-term outlook for core inflation has moved slightly higher.
Overall, the outlook for economic growth and inflation in Canada is largely unchanged from that set out in the April Monetary Policy Report.
The Canadian economy continues to grow at a solid pace, consistent with the Bank’s outlook in the January Monetary Policy Report Update.
The Canadian and global economies are evolving essentially in line with the Bank’s expectations.
