<strong>Bank of Canada to ‘Act Forcefully’ to Tame Inflation: Deputy Governor Kozicki </strong>
By Max Sato (MaceNews) – Bank of Canada Deputy Governor Sharon Kozicki on Friday stressed that the bank’s is determined to fight inflation with more actions “forcefully,” following its first rate hike in over three years in March, and ahead of its April 13 policy decision. “We have taken action and will continue to do […]
Bank of Canada’s Macklem: Won’t Rule Out 50 bp Rate Hike in Future If Needed
–BOC Governor: To Tighten Policy ‘In a Deliberate and Careful Way’ By Max Sato (MaceNews) – Bank of Canada Governor Tiff Macklem said Thursday that he won’t rule out the possibility of the bank raising the policy interest rate by a faster pace of 50 basis points than its decision Wednesday to conduct the first […]
Bank of Canada Hikes Policy Rate To 0.50% From Record Low 0.25% To Fight Inflation
–BOC Keeps Reinvesting in Government Bonds on Its Balance Sheet –BOC: Russia’s Invasion of Ukraine ‘A Major New Source of Uncertainty’–BOC: Expect Further Rate Hikes As Economic Growth, Inflation Pressures Continue –BOC: To Consider Start of Quantitative Tightening Based on Economic Assessment By Max Sato (MaceNews) – The Bank of Canada on Wednesday raised its […]
Update: Bank of Canada’s Macklem Sees Multiple Rate Hikes But Not on Autopilot
— Adds governor comments from news conference, background at bottom By Max Sato (MaceNews) – Bank of Canada Governor Tiff Macklem on Wednesday stressed that the bank’s latest view that domestic interest rates are “on a rising path” does not mean that the bank’s policymakers would automatically keep raising rates once they embark on tightening. […]
Bank of Canada Keeps Record-Low Rate But Ends Forward Guidance on Easing
— BOC’s Macklem: Taking Deliberate Steps Toward Higher Interest Rates— BOC To Keep Govt Bonds on Its Balance Sheet Until It Starts Raising Rates— BOC Revises Up 2022 CPI Forecast To 4.2% From 3.4%; 2023 Unchanged at 2.3%— BOC Lowers 2022 GDP Forecast to 4.0% From 4.3%, 2023 To 3.5% Vs 3.7% By Max Sato […]
Bank of Canada Policy Statement – Holds Rates Steady, Ends Extraordinary Forward Guidance on Policy Rate
(MaceNews) – The following is the text of Wednesday’s Bank of Canada policy announcement: The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ %, with the Bank Rate at ½ % and the deposit rate at ¼ %. With overall economic slack now absorbed, the […]
BOC Q4 Survey: Business Sentiment Up on Capacity Pressures, Demand Pickup
— Survey Conducted Nov. 15-Dec. 6, Before Surge in Omicron-Led Covid Cases — 67% of Firms in Canada See Above 3% Inflation Over 2 Years Vs. 45% in Q3 — BOJ Nov Consumer Survey: More Concerned About Inflation, Hard To Control By Max Sato (MaceNews) – Sentiment among companies in Canada continued improving toward the […]
Bank of Canada Keeps Record-Low Rate, Still Sees a Hike in Mid-2022
By Max Sato (MaceNews) – The Bank of Canada on Wednesday left its record-low policy rate — the target for overnight lending rates — at 0.25%, as expected, to continue supporting economic recovery while sticking to its recent projection that a rate hike is likely to come sometime between April and September. “The Governing […]
Bank of Canada Sees Rate Hike in Mid-2022, Earlier Than Forecast Before
–BOC Brings Forward Rate Hike Timing From 2nd Half 2022 on Economic Pickup–BOC Revises Up 2022 CPI Forecast Sharply Higher, Slashes 2021 GDP Projection–Central Bank Keeps 0.25% Policy Rate As Expected But Ends Asset Purchases By Max Sato (MaceNews) – The Bank of Canada left its record-low policy interest rate unchanged Wednesday but revised its […]
BOC Q3 Survey Shows Business Sentiment Up, Tougher Supply Constraints
— More Firms in Canada See Above 3% Inflation Over 2 Years By Max Sato (MaceNews) – Sentiment among companies in Canada, particularly those in the services sector, continued to pick up in the July-September quarter on expectations of a gradual reopening of the economy and national borders, the Bank of Canada’s quarterly Business Outlook […]