Canada: 2023 Article IV Consultation-Press Release; and Staff Report

July 27, 2023

Preview Citation

Format: Chicago

Canada: 2023 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2023) accessed November 8, 2024

Summary

Growth is slowing and headline inflation falling rapidly, but, as in other countries, core inflation has been stickier and short-term expectations elevated in the context of still-tight labor markets. The financial system appears broadly resilient despite global banking stresses and ongoing mortgage resets at higher interest rates. With the world moving from one crisis to the next, risks to a highly open economy like Canada are substantial and compound domestic vulnerabilities related to inflation expectations, the housing market, and household leverage. The outlook thus remains uncertain, and shocks could push the economy into a mild recession.

Subject: Financial institutions, Housing prices, Inflation, International organization, Loans, Monetary policy, Mortgages, Prices

Keywords: Financial asset, Global, Government operation, Housing prices, Inflation, Liability positions vis-à-vis nonresident, Loans, Money market rate, Mortgages, Policy tightening

Publication Details

Pages:

72
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/286
Stock No:

1CANEA2023001
ISBN:

9798400249891
ISSN:

1934-7685

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