Canada: 2009 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
Electronic Access:
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Summary:
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.
Series:
Country Report No. 2009/162
Subject:
Banking Commodity prices Credit Deflation Deposit insurance Financial sector policy and analysis Financial sector stability Inflation Money Prices
English
Publication Date:
May 22, 2009
ISBN/ISSN:
9781451807080/1934-7685
Stock No:
1CANEA2009001
Pages:
56
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