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In 2021, we renewed Canada’s flexible inflation-targeting framework for 2022 to 2026.
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The Canadian economy is now clearly in excess demand, and inflation is high and broadening. The Bank is projecting inflation to decline to about 3% by the end of 2023, and to return to the 2% target by the end of 2024.
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Macroeconomics of the 2020s: What we’ve learned, and what’s to come — Deputy Governor Paul Beaudry speaks at the University of Waterloo Faculty of Arts Distinguished Lecture in Economics. (15:45 (ET) approx.).
These forecasts are provided to Governing Council in preparation for monetary policy decisions. They are released once a year with a five-year lag.
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