-
Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues program of quantitative easing
The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank is also continuing its quantitative easing (QE) program, with large-scale asset purchases of at least $5 billion per week of Government of Canada bonds. The Bank’s short-term liquidity programs announced since March to improve market functioning are having their intended effect and, with reduced market strains, their use has declined. The provincial and corporate bond purchase programs will continue as announced. ... (full story)
Added at 10:04am
-
BOC: WHILE ECONOMIES ARE RE-OPENING, THE GLOBAL AND CANADIAN OUTLOOK IS EXTREMELY UNCERTAIN.
— Breaking Market News (@financialjuice) July 15, 2020