Economic Outlook: Tight monetary policy to squeeze economic growth

Published on: Mar 24, 2023

Despite elevated uncertainty in response to several recent bank failures in the United States and beyond, the economic downturn in Canada is not expected to be as deep as previously anticipated. This quarter’s outlook looks at the factors impacting the economy, such as:

  • Inflation levels have been coming down in recent months.
  • The Bank of Canada has hit pause on rate hikes.
  • Consumer confidence is down.
  • Activity in Canada’s housing market has plunged.
  • Job reports have been stronger for the last few months.


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