Canada.
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TextSeries: IMF Staff Country Reports, Country Report ; No. 09/162Publication details: Washington, D.C. : International Monetary Fund, 2009Description: 1 online resource (56 p.)ISBN: 1451807082 :ISSN: 1934-7685Subject(s): Article IV Consultation Reports | Bank Supervision | Banks | Economic Indicators | Financial Sector | Financial StabilityAdditional physical formats: Print Version:: CanadaOnline resources: IMF e-Library | IMF Book Store Abstract: The staff report on Canada's 2009 Article IV Consultation examines economic developments and policies. Canadian banks have weathered the crisis better than major-country peers, but the credit cycle will be challenging, particularly given high household debt. Financial instability is a tail risk, but heightened vigilance is warranted. The Bank of Canada has appropriately loosened monetary policy, bringing the policy rate target to a record-low 1/2 percent. Macroeconomic policies have adopted an expansionary tilt, and authorities have taken steps to safeguard financial stability.
The staff report on Canada's 2009 Article IV Consultation examines economic developments and policies. Canadian banks have weathered the crisis better than major-country peers, but the credit cycle will be challenging, particularly given high household debt. Financial instability is a tail risk, but heightened vigilance is warranted. The Bank of Canada has appropriately loosened monetary policy, bringing the policy rate target to a record-low 1/2 percent. Macroeconomic policies have adopted an expansionary tilt, and authorities have taken steps to safeguard financial stability.
Description based on print version record.
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