While the labour market in Canada is in good shape overall, answers to some key questions will help provide insight into slower-than-expected wage growth, Senior Deputy Governor Carolyn A. Wilkins said today.
Senior Deputy Governor Carolyn A. Wilkins discusses developments in the Canadian labour market and factors that may help explain why wage growth is slower than expected.
The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent.
Results from the winter Business Outlook Survey continue to indicate positive business sentiment and elevated capacity pressures in most regions. For firms in the Prairies, the outlook has weakened.
Overall household lending conditions were unchanged this quarter, although mortgage approval rates were lower. More widespread easing of business lending conditions continues to be driven by competition for corporate borrowers.
In his final speech of 2018, Governor Stephen S. Poloz discusses the vulnerabilities and risks in Canada’s financial system as well as Canadian and global economic developments. He explains how all this was taken into account in the December interest rate decision.