BOC Monetary Policy Report - July 2024

From bankofcanada.ca

Consumer price index (CPI) inflation in Canada is moving closer to the 2% target as monetary policy works to reduce price pressures. Inflation is no longer broad-based, and measures of core inflation have eased significantly. However, some pressures remain, particularly in prices for services, and progress back to the target is expected to be uneven. The global economy is expected to grow at around 3% over the projection horizon. In the United States, economic growth has slowed after a period of surprising strength. Past increases in interest rates are weighing on consumption, and government spending has moderated. ... (full story)