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Macklem: Monetary policy in the context of COVID-19
Good morning. I am very pleased to be with you for my first public event as Governor of the Bank of Canada. The COVID‑19 pandemic has upended many of our ways of doing things, including speaking in person to large groups. Fortunately, we can take advantage of technology so I can speak to every Canadian club and cercle canadien, and hear directly from your members right across the country. Thank you for the invitation. COVID‑19 is a human tragedy that has precipitated an economic catastrophe, the likes of which we have not experienced in our lifetimes. Entire sectors of the economy have been shuttered. More than 3 ... (full story)
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BOC'S MACKLEM BANK OF CANADA'S 2% INFLATION TARGET REMAINS ITS BEACON DURING THIS ECONOMIC CRISIS
— First Squawk (@FirstSquawk) June 22, 2020
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BOC's Macklem:
— DailyFX Team Live (@DailyFXTeam) June 22, 2020
- Markets are functioning much better
- Q3 to resume economic growth
- Using negative interest rates could warp lending behaviors
- QE to continue until economy is far into recovery $USDCAD
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BOC'S GOV. MACKLEM: THE BANK IS WORKING WITH STATISTICS CANADA TO UNDERSTAND THE IMPLICATION OF SHIFTS IN SPENDING PATTERNS.
— Breaking Market News (@financialjuice) June 22, 2020