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Canada: 2009 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2009: Issue 162
Language:
English
Publication Date:
22 May 2009
DOI:
https://doi.org/10.5089/9781451807080.002
ISBN:
9781451807080
ISSN:
1934-7685
Pages:
56
Keywords:
ISCR; CR; Medium-term inflation expectation; Core CPI inflation; headline inflation; inflation outlook; monetary policy report; business outlook survey; target rate; Canadian dollar; statistics Canada; stimulus package; capital injection; Financial sector stability; Inflation; Credit; Commodity prices; Deflation; Global; Caribbean
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The staff report on Canada’s 2009 Article IV Consultation examines economic developments and policies. Canadian banks have weathered the crisis better than major-country peers, but the credit cycle will be challenging, particularly given high household debt. Financial instability is a tail risk, but heightened vigilance is warranted. The Bank of Canada has appropriately loosened monetary policy, bringing the policy rate target to a record-low ½ percent. Macroeconomic policies have adopted an expansionary tilt, and authorities have taken steps to safeguard financial stability.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund