Canada: 2009 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion

International Monetary Fund

No 2009/162, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

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 (search for similar items in EconPapers)
Pages: 56
Date: 2009-05-22
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