20Feb2023

Monetary Policy Report – January 2023

January 25, 2023

Available as: PDF

Inflation in Canada is still too high but has declined from its peak. As the effects of higher interest rates continue to spread through the economy, and with declines in energy prices and improved supply chains, inflation is projected to fall to around 3% in the middle of 2023 and reach the 2% target in 2024.

What you need to know about the Bank of Canada’s assessment of the Canadian economy.

Content Type(s): Publications, Monetary Policy Report