Bank of Canada’s Beaudry: May Need To Hike Rates Above 2-3% Neutral Rate As Inflation Persists
By Max Sato (MaceNews) – The Bank of Canada may need to keep raising its policy interest rate above what it sees as neutral, currently in the 2% to 3% range, as inflation has been rising faster than expected and could become much harder to control, Deputy Governor Paul Beaudry said Thursday. He also said […]
Bank of Canada Raises Policy Rate Again to Tame Inflation, Says to Rise Further Given Strong Growth, High Inflation
–BOC: Ukraine War, China’s Covid Lockdowns, Supply Constraints Weighing on Growth, Boosting Inflation –BOC Repeats: Timing, Pace of Further Rate Hikes Set by Economic Assessment By Max Sato (MaceNews) – The Bank of Canada on Wednesday lifted its policy interest rate – the target for overnight lending rates – by another 50 basis points to […]
G7 Leaders Pledge Continued Actions Vs Russia
WASHINGTON (MaceNews) – Leaders of the G-7 countries, including President Joe Biden, Sunday met with Ukraine President Volodymyr Zelensky by video hookup, afterwards issuing a long statement pledging continued widespread sanctions and other actions, like phasing out Russia energy supplies, to support the war effort. The statement follows: G7 Leaders’ Statement Today, on 8 May, […]
UPDATE: Bank of Canada Hikes Policy Rate by 50 Bps To 1% as Ukraine War Adds Fuel to Inflation, Supply Delays
–BOC Also Decides To Begin Quantitative Tightening, Gradually Trim BalanceSheet–BOC: Russia’s Invasion of Ukraine ‘Causing New Economic Uncertainty’–BOC Repeats: Timing, Pace of Further Rate Hikes Set by Economic Assessment–BOC Governor Macklem: Prepared To Be ‘Forceful’ in Rate Hikes If Needed By Max Sato (MaceNews) – The Bank of Canada on Wednesday jacked up its policy […]
BOC Q1 Survey: Business Sentiment Slips but Still High on Demand
–Firms See Rising Costs Amid Ukraine War, Higher Wages due to Tight Labor Markets — 70% of Firms in Canada See Above 3% Inflation Over 2 Years Vs. 67% in Q4 — BOC Consumer Survey: Prices Surge but Longer-Term Inflation Views Anchored By Max Sato (MaceNews) – Sentiment among companies in Canada dipped in the […]
<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 […]
Analysis: Canada’s Economy Survives Anti-Covid Mandate Blockade, Reputation at Stake
By Max Sato (MaceNews) – The Canadian economy appears to have emerged little hurt overall from a temporary blockade of its key US trade route caused by a truckers-led protest against anti-Covid mandates, but the government failure to prevent occupations of crucial border crossings and the national capital has tarnished the country’s reputation as an […]
Canada’s PM Trudeau Invokes Emergencies Act To Clear Trucker Blockades
— Trudeau: Fresh Tools ‘Time-Limited, Geographically Specific’ — Trudeau: Not Calling in Military As Solution To Ending Illegal Occupations By Max Sato (MaceNews) – Canadian Prime Minister Justin Trudeau said Monday that he has invoked the Emergencies Act for the first time ever, which will give the federal government temporary 30-day extraordinary powers to help […]