News

Results of the fourth-quarter survey show that consumers have reduced their purchases of a broad range of goods and services in response to rising inflation and increases in interest rates. High food prices are a particular source of frustration for households. Most consumers anticipate a mild or moderate recession in the next 12 months. And although labour markets continue to be strong, some early signals suggest consumers think this strength will fade. Meanwhile, short-term inflation expectations remain elevated this quarter, but consumers have varied opinions about where inflation will be in five years. More people than before the pandemic expect deflation.

A themed issue in the Journal of Econometrics invites paper submissions on “Machine learning for economic policy” by May 31, 2023.

Governor Tiff Macklem discusses the important lessons from events in 2022 and what the Bank is doing to restore price stability for Canadians.

The Bank of Canada has announced the five finalist teams in the 2022–23 edition of The Governor’s Challenge, a competition where university students simulate the role of advisor to the Bank’s Governing Council.

Speaking a day after the Bank of Canada decided to raise our policy interest rate, Deputy Governor Sharon Kozicki discusses the current state of the economy. She also talks about how we are improving our transparency with Canadians.