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 […]
White House and Other Schedules for Wednesday, April 12
WASHINGTON (MaceNews) – The following are Wednesday’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: COMPREHENSIVE TRIP GUIDANCE AND PRESS SCHEDULE FORWEDNESDAY, APRIL 12, 2023 – SATURDAY, APRIL 15, 2023 Wednesday, April 12, 2023 In the morning, the President will meet with […]
Bank of Canada Q1 Survey: Business Sentiment Dips for 5th Straight Quarter Amid Slower Global Growth, High Inflation
By Max Sato (MaceNews) – Sentiment among companies in Canada declined for the fifth straight quarter in January-March after last year’s aggressive interest rate hikes by major central banks have led to slower global demand amid easing but sticky inflation and tight labor conditions, the Bank of Canada’s quarterly Business Outlook Survey released Monday showed. […]
Bank of Canada’s Gravelle: Too Early to Discuss Normalizing High Rates as Inflation Remains Above Target
–BOC’s Gravelle: Quantitative Tightening Likely to End in late 2024 to Early 2025 By Max Sato (MaceNews) – It is too early to discuss normalizing the Bank of Canada’s high policy interest rate because consumer inflation at 5.2% remains well above its 2% target, although it has eased from its recent peak of 8.1% hit […]
<strong>Bank of Canada Pauses in Tightening but Repeats It is Prepared to Raise Rates Further If Needed</strong>
–BOC: Will Continue Assessing Economic Developments, Effects of Cumulative Tightening –BOC: Labor Markets ‘Very Tight,’ Employment Growth ‘Surprisingly Strong’ –BOC Keeps View Inflation to Slow to 3% in Mid-2023 but Says Needs to Come Down Further By Max Sato (MaceNews) – The Bank of Canada on Wednesday left its policy interest rate — the target […]
<strong>Bank of Canada Q4 Survey: Business Sentiment Dips for 4th Straight Quarter on Rising Interest Rates</strong>
–Firms Continue to See Inflation Above BOC’s 2% Target in Short Term –In 5 years, Firms Expect Inflation to be Within BOC’s 1-3% Target Range –Most Consumers Expect Mild to Moderate Recession within 12 Months –More Consumers Than Before Pandemic Anticipate Deflation in 5 Years as Supply Bottlenecks Ease By Max Sato (MaceNews) – Sentiment […]
Bank of Canada Hikes Key Rate by 75 Bps to 3.25% in Front-Loading Tightening Drive 
–BOC: Key Rate Still Needs to Rise Further, to See How Much Higher It Should Go–BOC Repeats: Canadian Economy in Excess Demand, Inflation High and Broad–BOC: Economy to Moderate in 2nd Half of 2022 on Slower Global Demand, Tightening By Max Sato (MaceNews) – The Bank of Canada on Wednesday raised its policy interest rate […]
BOC Q2 Survey: Business Sentiment Dips for 2nd Straight Quarter on High Costs, Supply Delays
—Labour Shortages More Intense, Limiting Sales Growth; Wages Rising Fast –Capex Plans Backed by Demand but May Slow Amid High Costs, Higher Rates –Consumer Survey Also Points to Higher Inflation, Uncertainty By Max Sato (MaceNews) – Sentiment among companies in Canada declined for the second straight quarter in April-June, hit by rising costs and […]