Speeches and appearances

Press conference following the release of the Monetary Policy Report.

Thank you for this opportunity to appear here today. Recent Economic and Financial Developments In recent weeks, several downside risks to the Bank’s July Monetary Policy Report (MPR) projection have been realised. The European sovereign crisis has intensified, the U.S. credit rating has been downgraded, and a broad range of data has signalled slower global […]

Press conference following the release of the Monetary Policy Report.

Governor Mark Carney outlines the highlights of the Bank of Canada’s analyses of the economic outlook and the stability of the financial system.

As anticipated in January, the global economic recovery is becoming more firmly entrenched and is expected to continue at a steady pace. In the United States, growth is solidifying, although consolidation of household and ultimately government balance sheets will limit the pace of the expansion.

The global economic recovery is proceeding at a somewhat faster pace than the Bank had anticipated, although risks remain elevated. Private domestic demand in the United States has picked up and will be reinforced by recently announced monetary and fiscal stimulus.

We are pleased to appear before this committee today to discuss the Bank of Canada’s views on the economy and our monetary policy stance. Before I take your questions, I would like to give you some of the highlights from our latest Monetary Policy Report, which was released last week.

We are pleased to appear before this committee today to discuss the Bank of Canada’s views on the economy and our monetary policy stance. Before I take your questions, I would like to give you some of the highlights from our latest Monetary Policy Report, which was released last week.

The global economic recovery is entering a new phase. In advanced economies, temporary factors supporting growth in 2010, such as the inventory cycle and pent-up demand, have largely run their course and fiscal stimulus will shift to fiscal consolidation over the projection horizon.

The global economic recovery is proceeding but is not yet self-sustaining. A greater emphasis on balance sheet repair by households, banks, and governments in a number of advanced economies is expected to temper the pace of global growth relative to the Bank’s outlook in April.