Bank of Canada Highlights From Their April 12 Meeting

General Victor Anasimiv 13 Apr

  • “[There is] an environment of material excess supply in Canada.”
  • “…the global economic recovery is becoming more firmly entrenched”
  • “In the United States, growth is solidifying, although consolidation of household and ultimately government balance sheets will limit the pace of the expansion.”
  • “…global financial conditions remain very stimulative and investors have become noticeably less risk averse.”
  • “The persistent strength of the Canadian dollar could create even greater headwinds for the Canadian economy, putting additional downward pressure on inflation”
  • “…recent economic activity in Canada has been stronger than the Bank had anticipated”
  • “Overall, the Bank projects that the economy will expand by 2.9 per cent in 2011.”
  • “The Bank expects that the economy will return to capacity in the middle of 2012”
  • “…underlying inflation is subdued”
  • “Core inflation…is expected to rise gradually to 2 per cent by the middle of 2012”