White House and Other Schedules for Wednesday, Sept 6
WASHINGTON (MaceNews) – The following are Wedesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR WEDNESDAY, SEPTEMBER 6, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. […]
Preview: Bank of Canada Expected to Keep Policy Rate at 5% Wednesday after Weak Q2 GDP Data
By Max Sato (MaceNews) – The Bank of Canada is expected to leave its policy interest rate at a 22-year high 5.0% on Wednesday after raising it by 25 basis points each in June and July in the wake of weak second quarter GDP data, but the outlook remains uncertain as to whether the bank […]
Bank of Canada Summary of July Meeting: Policymakers Agreed Cost of Delaying Rate Hike Greater than Benefit of Waiting
–-BOC: Members Saw Two Factors Keeping Inflation Above Target: Tightening Taking Longer Than Usual to Have Impact, Demand May Be Stronger Than Expected By Max Sato (MaceNews) – Bank of Canada policymakers discussed whether to raise the policy rate in July or wait for more evidence to solidify the case for further tightening and reached […]
Bank of Canada Raises Policy Rate to 22-Year High of 5% After Policymakers Debate Option of Keeping Rate at 4.75%
–BOC Governor Macklem: Monetary Policy Working but Underlying Inflationary Pressures More Stubborn –Macklem: Our Job is Not Done Until Inflation is Centered on 2% Target –Macklem: Trying to Balance Risks of Under- and Over-Tightening Policy –BOC Quarterly Report: CPI to Slow to 2% Target in mid-2025, About 6 months Later Than Expected in April By […]
Preview: Bank of Canada Expected to Raise Policy Rate 25 BP to 5% Wednesday but Outlook for Future Action Uncertain
By Max Sato (MaceNews) – The Bank of Canada is widely expected to top up its surprise June rate hike on Wednesday, taking the policy interest rate to a fresh 22-year high, but it remains uncertain whether the bank is done with 16 months of credit tightening aimed at guiding inflation lower to its 2% […]
Bank of Canada Q2 Survey: Business Sentiment Slips for 6th Straight Quarter to Nearly 3-Year Low; Inflation Outlook Lower but Still High
–High Cost of Living, Mortgage Renewal Concern Consumers, Some Think Worst May Be Over By Max Sato (MaceNews) – Sentiment among companies in Canada declined for the sixth straight quarter in April-June, deeper into negative territory, as continued credit tightening by many central banks is slowing global demand but many report domestic demand is up […]
Bank of Canada Surprises Market with 25 BP Rate Hike; Warns Policy-makers More Worried Inflation Could Get Stuck Well Above 2%
–BOC Decision Reflects Its View: Policy Not Sufficiently Restrictive to Bring Supply/Demand Back into Balance, Return Inflation Sustainably To 2% Target –BOC: Canada’s Labor Market Remains Tight; Overall, Excess Demand Looks to Be More Persistent Than Anticipated By Max Sato (MaceNews) – The Bank of Canada on Wednesday raised its policy interest rate – the […]
Preview: Bank of Canada Expected to Pause for 3rd Time in a Row to See Effects of Tightening but Likely to Warn It Is Prepared to Hike If Needed
By Max Sato (MaceNews) – The Bank of Canada on Wednesday is expected to leave its policy interest rate – the target for overnight lending rates – unchanged at 4.50% for the third consecutive meeting in a “conditional” pause during the current tightening cycle that began in March last year aimed at bringing elevated inflation […]
Bank of Canada’s Macklem: Prepared to Hike Rates If Inflation Shows Signs of Being Stuck Well Above 2% Target
–Governor Repeats: Too Early to Think About Rate Cuts; To Make Decisions When Economy Needs Them (MaceNews) – The Bank of Canada’s policymakers are prepared to raise interest rates again if inflation shows signs that it is stuck well above their 2% target, Governor Tiff Macklem said in a speech at the Toronto Regional Board […]
Bank of Canada Pauses for 2nd Time in a Row to Watch Effects of Past Tightening, Prepared to Hike Again If Needed
–BOC Governor Macklem: Governing Council Discussed Likelihood of Policy Rate Staying Restrictive for Longer –Macklem: Rate Cut Later This Year Expected in Markets ‘Doesn’t Look Like Most Likely Scenario’ –BOC: Canada’s Labor Market Remains Tight, Demand Still Exceeding Supply –BOC: Economy to Move into Excess Supply in 2nd Half of 2023 –BOC: CPI Inflation to […]