Canada: Staff Report for the 2007 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 051

Publication date: February 2007

ISBN: 9781451807028

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , rate , default rate , fiscal policy , commodity , headline inflation , executive board discussion , differential vis-à-vis , discussions of article IV consultation , market expectation , Inflation , Debt reduction , Fiscal stance , Inflation targeting , Global

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Summary

This 2007Article IV Consultation highlights that after surging in the first quarter of 2006, real GDP growth in Canada slowed subsequently, in part reflecting a cooling in the United States. Domestic demand remained the main driver of the economy, with private consumption expanding a robust 3¾ percent and business investment growing 8 percent. Financial sector performance remained strong in 2006, largely reflecting continuing benign global market conditions. Long-term interest rates remained low despite monetary tightening, as did spreads on private instruments, reflecting default rates that continue to be low.