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

May 22, 2009

Preview Citation

Format: Chicago

Canada: 2009 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion, (USA: International Monetary Fund, 2009) accessed November 21, 2024

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.

Subject: Banking, Commodity prices, Credit, Deflation, Deposit insurance, Financial sector policy and analysis, Financial sector stability, Inflation, Money, Prices

Keywords: Business outlook survey, Canadian dollar, Capital injection, Caribbean, Commodity prices, Core CPI inflation, CR, Credit, Deflation, Financial sector stability, Global, Headline inflation, Inflation, Inflation outlook, ISCR, Medium-term inflation expectation, Monetary policy report, Statistics Canada, Stimulus package, Target rate

Publication Details

Pages:

56
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/162
Stock No:

1CANEA2009001
ISBN:

9781451807080
ISSN:

1934-7685

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