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Gravelle: Getting to a new normal
Added at 9:37am
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BOC’S DEP. GOV. GRAVELLE: THE BANK WILL CONTINUE THE PROCESS OF NORMALISING ITS BALANCE SHEET; WE ARE AWARE THERE IS A RISK WE COULD BE WRONG ABOUT THE C$20 BLN TO C$60 BLN RANGE.
— FinancialJuice (@financialjuice) March 21, 2024
Added at 9:37am
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BOC’S DEP. GOV. GRAVELLE: WE WILL LEAN TOWARDS HOLDING SETTLEMENT BALANCES AT THE MINIMUM LEVEL NEEDED TO EFFECTIVELY IMPLEMENT MONETARY POLICY IN A FLOOR SYSTEM.
— FinancialJuice (@financialjuice) March 21, 2024
Added at 9:37am
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BOC’S DEP. GOV. GRAVELLE: THE RECENT PRESSURES DIDN'T CHANGE OUR VIEW OF LEVEL OF SETTLEMENT BALANCES NEEDED IN A FLOOR SYSTEM.
— FinancialJuice (@financialjuice) March 21, 2024
Added at 9:38am
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BOC’S DEP. GOV. GRAVELLE: I'M CONFIDENT THAT QT WAS NOT A MAIN DRIVER OF THE PRESSURES WE SAW IN OVERNIGHT REPO MARKETS EARLIER THIS YEAR; NOR DO WE SEE ANY SIGNS OF STRESS IN FINANCIAL SYSTEM THAT CAN BE TIED TO THOSE PRESSURES.
— FinancialJuice (@financialjuice) March 21, 2024