Publications

• January 25, 2023

  Monetary Policy Report – January 2023

  

  Inflation in Canada is still too high but has declined from its peak. As the effects of higher interest rates continue to spread through the economy, and with declines in energy prices and improved supply chains, inflation is projected to fall to around 3% in the middle of 2023 and reach the 2% target in 2024.

  Content Type(s): Publications, Monetary Policy Report
• January 16, 2023

  Business Outlook Survey—Fourth Quarter of 2022

  Results from the fourth-quarter 2022 Business Outlook Survey and the Business Leaders’ Pulse surveys from October 2022 through January 2023 show that business sentiment has continued to weaken. As a result of rising interest rates, firms’ sales expectations and investment plans are softening. Capacity pressures have moderated from elevated levels. In this context, firms expect a slower pace of price increases.

  Content Type(s): Publications, Business Outlook Survey
• January 16, 2023

  Canadian Survey of Consumer Expectations—Fourth Quarter of 2022

  Results of the fourth-quarter survey show that consumers have reduced their purchases of a broad range of goods and services in response to rising inflation and increases in interest rates. High food prices are a particular source of frustration for households. Most consumers anticipate a mild or moderate recession in the next 12 months. And although labour markets continue to be strong, some early signals suggest consumers think this strength will fade. Meanwhile, short-term inflation expectations remain elevated this quarter, but consumers have varied opinions about where inflation will be in five years. More people than before the pandemic expect deflation.

  Content Type(s): Publications, Canadian Survey of Consumer Expectations