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Monetary policy is working to reduce inflationary pressures and inflation is coming down, although it will take more time to see if this progress proves durable. The Bank projects that inflation will stay around 3% into the second quarter of 2024, ease below 2.5% in the second half of the year and return to target in 2025.
Release of the Monetary Policy Report – Press conference by Governor Tiff Macklem and Carolyn Rogers, Senior Deputy Governor (10:30 (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.
Laura is a Research Assistant at the Bank.
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