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 […]
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 […]
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 […]