Canada: 2016 Article IV Consultation-Press Release; and Staff Report

International Monetary Fund

No 2016/146, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper describes recent economic developments, outlook, risks, and policy challenges of the Canadian economy. After almost two years, the effects of the oil price shock continue to reverberate through the Canadian economy. Growth has decelerated, but inflation expectations remain well anchored. With the slowdown in growth, the output gap has reopened. Persistently low energy prices pose an important risk to the economy. The banking system remains sound, but exposure to the oil and gas sector will require higher provisions against expected losses. The policy mix over the near-term should cushion the adverse effects of lower oil prices on the economy while safeguarding financial stability.

Keywords: ISCR; CR; economy; accommodative monetary policy; monetary policy; consultation; oil shock; exchange rate; Canada's growth; financial asset; growth of mortgage credit; Oil prices; Housing prices; Mortgages; Oil; Productivity; Global; Caribbean; Asia and Pacific (search for similar items in EconPapers)
Pages: 84
Date: 2016-06-13
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Citations: View citations in EconPapers (6)

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