Bank of Canada (BoC) Monetary Policy Report is a quarterly report of BoC's Governing Council. The report presents the Bank's base-case projection for inflation and growth in the Canadian economy, as well as the assessment of risks.
This document is usually drawn up according to a single standard. The general strategy of managing inflation in Canada is described first.
This is followed by a section on global economic trends. It provides separate assessments of economic, inflationary and monetary conditions in the USA, as well as other advanced economies and emerging markets. Prices on world commodity markets are separately considered in this section. Since Canada is a major exporter of oil and other minerals, its monetary system is highly dependent on developments in commodity markets.
The next section of the report features a description of current Canadian economy situation. It provides an overview of key statistical indicators, export and import flows, financial conditions and inflationary outlook. A separate section contains a review of risk to the inflation outlook.
The report contains charts, diagrams, data sheets and other tools that simplify the perception of information and illustrate presented theses.
Depending on the report contents and optimism contained therein, its publication can have a short-term impact on the Canadian dollar.