Canada: 2016 Article IV Consultation-Press Release; and Staff Report

June 13, 2016

Preview Citation

Format: Chicago

Canada: 2016 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2016) accessed November 21, 2024

Summary

This paper describes recent economic developments, outlook, risks, and policy challenges of the Canadian economy. After almost two years, the effects of the oil price shock continue to reverberate through the Canadian economy. Growth has decelerated, but inflation expectations remain well anchored. With the slowdown in growth, the output gap has reopened. Persistently low energy prices pose an important risk to the economy. The banking system remains sound, but exposure to the oil and gas sector will require higher provisions against expected losses. The policy mix over the near-term should cushion the adverse effects of lower oil prices on the economy while safeguarding financial stability.

Subject: Banking, Commodities, Financial institutions, Housing prices, Mortgages, Oil, Oil prices, Prices, Production, Productivity

Keywords: Accommodative monetary policy, Asia and Pacific, Canada's growth, Caribbean, Consultation, CR, Economy, Exchange rate, Financial asset, Global, Growth of mortgage credit, Housing prices, ISCR, Monetary policy, Mortgages, Oil, Oil prices, Oil shock, Productivity

Publication Details

Pages:

84
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/146
Stock No:

1CANEA2016001
ISBN:

9781475530872
ISSN:

1934-7685

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