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 […]
BOC Chief: Uncertain How Long Canada’s ‘Transitory’ CPI Spike Lasts; Need Watch
— Macklem: After QE Tapering, Reinvestment, BOC Will Raise Rates — Macklem: Canada Q2 GDP Slump Caused by Supply Chain Disruptions — Macklem: Easing Global Supply Chain Constraints Could Take Time By Max Sato (MaceNews) – The Bank of Canada still considers the recent surge in domestic inflation a temporary phenomenon but it is uncertain […]
Canada’s Central Bank Keeps Easing Stance To Support Pandemic-Hit Economy
By Max Sato (MaceNews) – Bank of Canada policy-makers are sticking to their stance to take their time unwinding quantitative easing amid growing uncertainty over global and domestic economic recovery. The bank’s Governing Council announced Wednesday that it is holding the target for overnight lending rates at 0.25% and maintaining the pace of weekly asset […]
BANK OF CANADA’S MACKLEM: RESUMPTION OF PAYMENTS ‘GOING WELL’ AS DEFERRALS EXPIRE
NEW YORK (MaceNews) – So far, so good is the message from Bank of Canada Governor Tiff Macklem Thursday as Canadian borrowers resume loan payments deferred during the pandemic. Still, the BOC will watch closely to see how well households and businesses cope with expiring loan deferrals and will also monitor whether excessive debt is […]
BOC’S MACKLEM Q&A: AS BANK ASSESSES ASSET PURCHASES, ‘COULD BE MORE, COULD BE LESS’
NEW YORK (MaceNews) – Bank of Canada Governor Tiff Macklem Thursday said the bank’s “recalibration” of its asset purchases means it will consider adjusting the scale of its buying, and the maturities of its debt purchases. Macklem, speaking at a press conference, was asked to explain the bank’s recent statements that it will “recalibrate” its large-scale asset […]
BOC’S MACKLEM REPEATS: QE TO STAY UNTIL RECOVERY WELL UNDER WAY, TO CALIBRATE AS NEEDED
NEW YORK (MaceNews) – Bank of Canada Governor Tiff Macklem repeated Thursday the bank will keep its extraordinary monetary policy measures in place, and will calibrate its asset purchases as needed to support the recovery and meet its inflation target. Echoing language from the bank’s Wednesday policy announcement when policy-makers kept rates on hold, Macklem […]
TEXT: BANK OF CANADA LEAVES KEY RATE UNCHANGED
NEW YORK (MaceNews) – The following is the text of Wednesday’s Bank of Canada rate policy decision: The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank is also continuing its quantitative […]
EXCERPTS: BOC’S MACKLEM: REOPENING SURGE TO GIVE WAY TO BUMPINESS
OTTAWA (MaceNews) – Bank of Canada Gov. Tiff Macklem Wednesday said the decision to hold the policy rate at the lower bound and maintain the pace of quantitative easing was based on the assessment that the current rebound of economy activity will give way to a “slower and bumpier recuperation phase.” The following are excerpts […]