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Bank of Canada scaling back financial market support programs

mschmit — Tue, 27 Oct 2020 04:29:29 +0000

As financial market conditions improve, the Bank of Canada is scaling back some measures it introduced in the immediate aftermath of the coronavirus outbreak to support the functioning of financial markets. With the use of certain programs declining, the central bank is discontinuing the bankers’ acceptance purchase facility and its Canada mortgage bond purchase program, […]

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Bank of Canada warns of uneven recovery despite better than expected bounce back

mschmit — Wed, 09 Sep 2020 08:42:54 +0000

The Bank of Canada sought Wednesday to temper economic excitement about a sharper-than-expected rebound from the depths of the coronavirus crisis, pointing to worrying trends that signal all is still not well. In a statement, the central bank’s governing council said the bounce-back activity in the third quarter looks to be faster than it anticipated […]

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Bank of Canada looks for broader input in updating inflation target framework

mschmit — Tue, 25 Aug 2020 04:48:01 +0000

The Bank of Canada is turning to the public for input on its inflation-rate target that underlies any changes to the central bank’s trend-setting interest rate. The bank had already planned on a much broader consultation than what it did for previous reviews long before the coronavirus pandemic struck Canada and forced a sharp decline […]

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Bank of Canada holds rate, forecasts decline in GDP of 7.8% this year

mschmit — Wed, 15 Jul 2020 09:45:14 +0000

The Bank of Canada is holding its key interest rate at 0.25 per cent in response to what it calls the “extremely uncertain” economic outlook from the coronavirus pandemic, and plans to keep it there until the picture improves. In its updated outlook, the bank said Wednesday it expects the economy to contract by 7.8 […]

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Bank of Canada cuts key interest rate target to 0.25%

mschmit — Fri, 27 Mar 2020 06:23:27 +0000

The Bank of Canada cut its key interest target by half a percentage point to 0.25 per cent in an unscheduled rate announcement Friday. The central bank said its decision to lower rates is aimed at cushioning the economic shocks from COVID-19 and a sharp drop in oil prices by easing the cost of borrowing. […]

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