October 26, 2022 While inflation has come off its peak, it remains too high. As the economy responds to higher interest rates and as the effects of elevated commodity prices and supply disruptions fade, the Bank expects inflation to fall to about 3% in late 2023, then return to 2% in 2024.
A quarterly report of the Bank of Canada’s Governing Council, presenting the Bank’s base-case projection for inflation and growth in the Canadian economy, and its assessment of risks.
July 13, 2022 The Canadian economy is now clearly in excess demand, and inflation is high and broadening. The Bank is projecting inflation to decline to about 3% by the end of 2023, and to return to the 2% target by the end of 2024.
April 13, 2022 Canadian economic activity remains strong, and employment is robust. The Bank is forecasting growth of about 4¼% in 2022, easing to 3¼% in 2023.
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.
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.
July 14, 2021 As the economy reopens after the third wave of COVID-19, growth should rebound strongly. The Bank is forecasting growth of about 6 percent this year, slowing to about 4 ½ percent in 2022 and 3 ¼ percent in 2023.
April 21, 2021 As the economy recovers from the COVID-19 pandemic, the Bank is forecasting growth of around 6 ½ percent this year, slowing to about 3 ¾ percent in 2022 and 3 ¼ percent in 2023.
January 20, 2021 While a second wave of COVID-19 is hurting Canadians now, the economy should rebound strongly later in the year. The Bank is forecasting growth of around 4 percent this year and close to 5 percent in 2022.
October 28, 2020 The Bank expects Canada’s economy to grow by almost 4 percent on average in 2021 and 2022, following a decline of about 5 ½ percent in 2020.
July 15, 2020 The Bank expects a sharp rebound in economic activity in the reopening phase of the recovery, followed by a more prolonged recuperation phase.