July 24, 2024
Bank of Canada Media Interview – Financial Post
Tiff Macklem, Governor of the Bank of Canada, gave an interview to Jordan Gowling of the Financial Post.
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July 24, 2024
Bank of Canada reduces policy rate by 25 basis points to 4½%
The Bank of Canada today reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is continuing its policy of balance sheet normalization. -
July 24, 2024
Monetary Policy Report—July 2024
Monetary policy is working to reduce price pressures in the Canadian economy. Core inflation is expected to ease gradually, while the path of CPI inflation will be bumpy. Inflation returns sustainably to the 2% target in the second half of 2025. -
July 24, 2024
Monetary Policy Report—July 2024—Canadian economy—Current conditions
Inflation in Canada has been below 3% since January and broad inflationary pressures are easing. Economic growth has picked up, led by population gains. -
July 24, 2024
Monetary Policy Report—July 2024—Overview
Monetary policy is working to reduce price pressures in the Canadian economy. Core inflation is expected to ease gradually, while the path of CPI inflation will be bumpy. -
July 24, 2024
Monetary Policy Report Press Conference Opening Statement
Governor Tiff Macklem discusses the Monetary Policy Report and the key issues involved in the Governing Council’s deliberations about the policy rate decision. -
July 24, 2024
Monetary Policy Report—July 2024—In focus: How newcomers impact the Canadian economy
A rise in newcomer arrivals has boosted Canada’s population growth in recent years, adding to both supply and demand. Assessing how this change impacts the economy can provide insight into inflationary pressures. -
July 24, 2024
Monetary Policy Report—July 2024—In focus: Drivers of inflation in core goods and services
Inflation in the prices of goods excluding energy has fallen sharply across many economies, while inflation in services excluding shelter remains elevated. Examining the factors behind recent shifts can provide insights into where inflation may be headed, at least over the near term. -
July 24, 2024
Monetary Policy Report – July 2024 – Risks
The Bank sees two broad types of upside risks to the inflation outlook and two main downside risks, though the base-case scenario is considered the mostly likely outcome. -
July 24, 2024
Monetary Policy Report—July 2024—Projections
Economic growth in Canada is forecast to improve in the second half of 2024 and strengthen further in 2025 and 2026. Core inflation is expected to ease gradually, while the path of CPI inflation will be bumpy.