IMF Staff Country Reports

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

Publication Date:

July 27, 2023

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

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.

Series:

Country Report No. 2023/286

Subject:

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

Frequency:

regular