Annual Report 2022


Governor’s foreword

Last year was tough for Canadians and challenging for the Bank of Canada. Inflation started the year at just under 5% and rose to 8% in June, before falling to just over 6% by the end of the year.

In focus

The Bank of Canada’s response to high inflation

Throughout 2022, the Bank responded forcefully to high and rising inflation by undertaking the most rapid tightening cycle in Canada’s history.

Advancing the Bank of Canada’s climate change work

Climate change and the transition to a low-carbon economy will have profound implications in the decades ahead.

Enhancing stakeholder engagement

As a public institution, the Bank of Canada recognizes and embraces the need to engage with a broad range of Canadians. As well, new imperatives have driven it to deepen that engagement.

Global engagement in action

The Bank of Canada’s international activities help it achieve its mandate. Exchanging information with international counterparts helps the Bank better understand developments in the global economy.

Available as: PDF