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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.
Economic Progress Report — Deputy Governor Paul Beaudry speaks before the Greater Victoria Chamber of Commerce (15:25 (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 Bank of Canada has today updated its Rules Governing Advances incorporating changes supporting the new Term Loan Facility announced 12 November 2008.