## Canada: Staff Report for the 2011 Article IV Consultation

_IMF Staff Country Reports, December 21, 2011_

## Source details

**Canonical URL:** [Canada: Staff Report for the 2011 Article IV Consultation](https://www.imf.org/en/publications/cr/issues/2016/12/31/canada-staff-report-for-the-2011-article-iv-consultation-25453)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/canada-staff-report-for-the-2011-article-iv-consultation-25453/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/canada-staff-report-for-the-2011-article-iv-consultation-25453/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/canada-staff-report-for-the-2011-article-iv-consultation-25453/bundle-manifest.json)

## Bibliographic details
- Published: December 21, 2011
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781463929220.002

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### Executive summary
- The Canadian monetary and fiscal policies have remained accommodative, reflecting in large measure the effective response to the crisis.
- Canada is expected to set the appropriate policy mix in the future, at a time of high uncertainty and significant external headwinds.
- Given the advanced stage of the recovery, a still-large budget deficit, and the need to address long-term fiscal challenges, fiscal policy has moved toward a tightening stance.
- Resilient household credit has helped sustain private consumption and the construction sector during the crisis.

### Key findings and macroeconomic assessment
- Monetary and fiscal policies: accommodative overall; policy mix expected to be set appropriately in the future amid high uncertainty and external headwinds.
- Fiscal stance: moving toward tightening in response to
  - advanced stage of the recovery,
  - a still-large budget deficit,
  - the need to address long-term fiscal challenges.
- Household sector: resilient household credit has supported private consumption and the construction sector during the crisis.

### Thematic coverage and subjects
- Banking
- Expenditure
- Financial institutions
- Health care spending
- Housing prices
- Loans
- Mortgages
- Prices
- Public debt

### Keywords and analytical focus
- core inflation
- CR
- economy
- Europe
- Global
- Health care spending
- household debt
- Housing prices
- ISCR
- Loans
- Mortgages
- staff appraisal
- stronger-than-expected GDP rebound
- swap arrangement

### Publication and metadata
- Publication date: December 21, 2011
- Pages: 53
- Volume: 2011
- Issue: 364
- Series: Country Report No. 2011/364
- DOI: https://doi.org/10.5089/9781463929220.002
- Stock No: 1CANEA2011001
- ISBN: 9781463929220
- ISSN: 1934-7685

*International Monetary Fund. "Canada: Staff Report for the 2011 Article IV Consultation", IMF Staff Country Reports 2011, 364 (2011).*

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## Content in this bundle

- **Canada: 2011 Article IV Consultation; IMF Country Report 11/364; November 23, 2011**
  - [Canada: 2011 Article IV Consultation; IMF Country Report 11/364; November 23, 2011 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2011/_cr11364.pdf.md){rel="alternate" type="text/markdown"}
  - [Canada: 2011 Article IV Consultation; IMF Country Report 11/364; November 23, 2011 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2011/_cr11364.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/canada-staff-report-for-the-2011-article-iv-consultation-25453_