Canada: 2024 Article IV Consultation-Press Release; and Staff Report

Author: International Monetary Fund. Western Hemisphere Dept.

Volume/Issue: Volume 2024 Issue 228

Publication date: July 2024

ISBN: 9798400279966

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Topics covered in this book

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Emigration and Immigration , Finance , Inflation , Labor , investment Canada Act , emissions-reduction goal , further policy guidance , consultation cycle , consultation notice , Housing , Inflation , Migration , Labor markets , Financial sector stability , Global

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Summary

The Canadian economy appears to have achieved a soft landing: inflation has come down almost to target, while a recession has been avoided, with GDP growth cushioned by surging immigration even as per capita income has shrunk. Housing unaffordability has risen to levels not seen in a generation, with demand boosted by immigration and supply facing continued challenges to expansion.