The Bank of Canada has released a summary of their January 2014 edition of the Monetary Policy Report. This report is published on a quarterly basis reflecting the behaviour and the outlook of the Canadian economy.
Here are a few key facts from the Monetary Policy Report:
- In 2013, real GDP grew by 1.8%, expected to grow to 2.5% in 3014 and 2015
- Expectation of inflation dropped as projection moved below the 2% target
- Stronger U.S. demand will help to boost exports and business investments, allowing for continued and strong growth over the next few years
The Canadian economy is gradually returning to its full production capacity in both 2014 and 2015.
For more information and view the entire Monetary Policy Report Summary, click here.
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