Preview: Bank of Canada Seen Keeping Rates Steady in Conditional Pause Amid Tight Labor Market, Slowing Global Demand
By Max Sato (MaceNews) – The Bank of Canada is expected to maintain its policy interest rate – the target for overnight lending rates – at 4.50 percent on Wednesday in what its policymakers call a “conditional” pause during the current tightening cycle that began in March last year. The labor market remains tight and […]
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>White House and Other Schedules for Friday, March 24</strong>
WASHINGTON (MaceNews) – The following are Friday’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 FOR PRESIDENT BIDENFRIDAY, MARCH 24, 2023In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. After, […]
<strong>White House and Other Schedules for Thursday, March 23</strong>
WASHINGTON (MaceNews) – The following are Thursday’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 FOR THRUSDAY, MARCH 23, 2023 – FRIDAY, MARCH 24, 2023 Thursday, March 23, 2023 In the morning, the President will receive the President’s Daily […]
<strong>Bank of Canada Governor Macklem Repeats Current Pause in Tightening ‘Conditional’ on Economy Moving Along Projection</strong>
–BOC Sees Upside and Downside Risks to Its Forecast as ‘Balanced’ –Macklem: ‘We Are More Concerned About Upside Risks’ –Macklem: Too Early to Talk about Cutting Rates (MaceNews) – Bank of Canada Governor Tiff Macklem on Tuesday repeated his recent remarks that the bank’s pausing in its credit tightening is “conditional” that overheated domestic economic […]
<strong>Bank of Canada Governor: ‘Far Too Early’ to Discuss Rate Cuts, Trying to Balance Risks of Over- and Under-Tightening</strong>
–BOC’s Macklem: Governing Council Statement Points to ‘Conditional Pause’ –Macklem: Prepared to Raise Rates Further If Inflation Moves Higher Than Forecast By Max Sato (MaceNews) – It is too early to discuss whether the Bank of Canada will need to consider lowering interest rates to support economic growth as it takes time to bring inflation […]
<strong>Bank of Canada Hikes Key Rate by 25 Bps to 4.50%, as Expected; To Hold Policy if Economy Moves as Forecast</strong>
–BOC Changes Stance from December View of Mulling If Rates Need to Rise Further –BOC Repeats: Canadian Economy in Excess Demand, Labor Markets Tight –BOC Revises Down 2023 CPI Forecast, Sees Modest GDP Growth By Max Sato (MaceNews) – The Bank of Canada on Wednesday raised its policy interest rate — the target for overnight […]
<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 […]
<strong>Bank of Canada’s Macklem Vows to Bring High Inflation All the Way Back to 2%</strong> <strong>Target</strong>
–Governor Says Under-Tightening Will Pose Greater Risk Than Over-Tightening –Macklem Declines Comment on How Long Restrictive Interest Rates Will Last –Macklem: Rate Hikes Could Work Faster Than Before, Watching New Sets of Data By Max Sato (MaceNews) – The Bank of Canada is determined to bring elevated inflation “all the way back” to its 2% […]