The Bank of Canada is the nation’s central bank. We are not a commercial bank and do not offer banking services to the public. Rather, we have responsibilities for Canada’s monetary policy, bank notes, financial system, and funds management. Our principal role, as defined in the Bank of Canada Act, is "to promote the economic and financial welfare of Canada."| www.bankofcanada.ca
View data from the Canadian Survey of Consumer Expectations (CSCE)—a quarterly survey aimed at measuring household views of inflation, the labour market and household finances.| www.bankofcanada.ca
We use data from the Canadian Survey of Consumer Expectations to understand how households are coping with high inflation and high interest rates. We build a subjective measure of financial stress and find that the level of stress is at a historical high but remains manageable for most households.| www.bankofcanada.ca
We assess the complex macroeconomic implications of Canada’s recent population increases. We find that newcomers significantly boost the non-inflationary, potential growth of the economy, but existing imbalances in the housing sector may be exacerbated. Greater housing supply is needed to complement the long-term economic benefits of population growth.| www.bankofcanada.ca
Since 2022, consumer inflation expectations have shifted, with a significant increase in those expecting high inflation in the coming year and a surge in those expecting deflation further in the future. Using data from the Canadian Survey of Consumer Expectations, this paper seeks to assess the factors that influence people to expect high inflation, moderate inflation or deflation.| www.bankofcanada.ca
