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Inflation in Canada remains high but should come down quickly to around 3% in the middle of this year because of lower energy prices, improved supply chains and restrictive monetary policy. The Bank projects that inflation will reach the 2% target by the end of 2024.
Release of the Financial System Review — Press conference by Governor Tiff Macklem and Carolyn Rogers, Senior Deputy Governor (11:00 (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.
The results of today's term PRA operations are as follows:
High yield: 3.150%
Low yield: 3.060%
Average Yield: 3.091%
Par Amount Transacted: $2,000,000,000