Mass immigration to Canada will keep a lid on inflationary pressures in the long run, but has also strained housing markets and helped to drive rent inflation to a 40-year high, says a Bank of Canada official.
Food prices will keep rising in 2024, though at a slower pace, according to the latest Food Price Report.
The Bank of Canada is expressing more confidence that its rate hikes to date are slowing the economy and inflation, but experts are split on whether the central bank will nail a “soft landing” and avoid a deep recession.
Canadian stocks and bonds have rallied as investors bet on interest rate cuts as soon as next spring, but experts say the Bank of Canada is leaving the door open to future hikes in a bid to rein in market expectations.
Canada's merchandise trade surplus grew to $3 billion in October as imports fell and exports edged higher, Statistics Canada said Wednesday.
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