April 4, 2022 In the first-quarter 2022 Business Outlook Survey, reports of labour-related capacity constraints and supply chain challenges remain widespread. Given these pressures and robust demand, businesses anticipate stronger price growth—and they expect the Russian invasion of Ukraine to add more cost pressures. As public health restrictions ease, firms that were hit hard during the pandemic anticipate their sales will pick up.
April 4, 2022 This survey took place in mid-February 2022 before Russia invaded Ukraine on February 24, 2022. Follow-up interviews took place in March and provide some insight into how consumers perceive the effects of the conflict. Short-term inflation expectations have reached record-high levels because of supply disruptions and the COVID 19 pandemic. Consumers think the Russian invasion of Ukraine will make high inflation worse. Despite greater concerns about inflation today, longer-term expectations have remained stable and are below pre-pandemic levels. This suggests that long-term inflation expectations remain well anchored and that survey respondents believe the current rise in inflation will not last. Although workers anticipate significant price increases in the near term, they believe their wages will increase only modestly. This is a source of dissatisfaction for them. Despite expecting higher interest rates, consumers continue to anticipate strong spending growth on a broad range of goods and services.
January 26, 2022 The Canadian economy entered 2022 in a strong position. The Bank is forecasting growth of 4% in 2022 and about 3½ % in 2023.
January 17, 2022 In the fourth-quarter Business Outlook Survey, reports of supply chain bottlenecks and labour shortages remain elevated. Firms cited robust growth in demand, although those offering hard-to-distance services still had sales below pre-pandemic levels, even before the Omicron variant began spreading broadly. These factors are resulting in upward pressures on prices over the next year.
January 17, 2022 This survey took place in November 2021 before the Omicron variant of COVID-19 began spreading broadly in Canada. In December, the number of COVID-19 cases rose dramatically and governments began to reimpose containment measures. Many Canadians think inflation will be high over the next two years because of supply disruptions caused by the pandemic. They are more concerned about inflation now than they were before the pandemic and believe it has become more difficult to control. However, near-term inflation expectations are not feeding into expectations for wage growth or longer-term inflation. Showing confidence in the labour market, workers are more likely than ever to want to change jobs.
November 22, 2021 This article presents the key results from the autumn 2021 Bank of Canada Financial System Survey, conducted between September 7 and September 24, 2021. The survey included a special section on the implications of low interest rates on strategies and risks.
November 8, 2021 Quarterly Financial Report - Third Quarter 2021 - For the period ended September 30, 2021
October 27, 2021 The Canadian economy is once again growing robustly, and the recovery from COVID-19 continues. The Bank is forecasting growth of around 5 percent in 2021, 4 ¼ percent in 2022 and 3 ¾ percent in 2023.
October 18, 2021 Firms anticipate stronger demand as pandemic conditions improve, according to results from the Business Outlook Survey in the third quarter of 2021. However, many businesses face supply constraints that will limit their sales and put upward pressure on their costs. Together, these demand pressures and supply challenges are driving widespread plans to invest, hire staff and increase prices.
October 18, 2021 This survey took place in the third quarter of 2021, after most Canadians had been fully vaccinated against COVID-19 and as the Delta variant was beginning to spread more broadly in Canada. Results suggest that consumers plan to increase their spending significantly but remain cautious because of the Delta variant. Canadians think inflation will be higher in the near term due to supply disruptions, but they do not expect this situation to last. Although expectations for labour market conditions improved again, visible minorities, Indigenous people and people with disabilities are showing signs of vulnerabilities. Canadians are not expecting significant wage gains despite recent improvements in the labour market and perceptions of higher inflation.