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Monetary Policy Report - July 2020
The COVID-19 pandemic has caused a worldwide health-care emergency as well as an economic calamity. Both are on a scale few have seen in their lifetime. The virus has spread broadly and rapidly, and to contain it, governments introduced public health measures that curtailed economic activity. The virus, combined with these necessary measures, has brought about the steepest and deepest economic decline since the Great Depression. Virtually every aspect of the Canadian and global economies has been affected, causing widespread losses in jobs and business incomes. The course of the pandemic is inherently unknowable, and ... (full story)
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BOC: THE CANADIAN ECONOMIC ACTIVITY IN Q2 2020 IS ESTIMATED TO HAVE FALLEN ABOUT 15% BELOW ITS LEVEL AT THE END OF 2019; THE ECONOMY APPEARS TO HAVE HIT BOTTOM IN APR.
— Breaking Market News (@financialjuice) July 15, 2020
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BOC SCENARIO: GLOBAL OUTPUT FALLS BY 5.2% IN 2020 AND THEN GROWS BY 5.2% IN 2021 AND 5.4% IN 2022; DESPITE THE STRONG REBOUND, GLOBAL OUTPUT AT THE END OF 2022 EXPECTED TO REMAIN ABOUT 4% LOWER THAN PROJECTED LEVEL IN JAN. MONETARY POLICY REPORT.
— Breaking Market News (@financialjuice) July 15, 2020
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BOC: WE EXPECT ECONOMIC SLACK TO PERSIST AS THE RECOVERY IN DEMAND LAGS THAT OF SUPPLY, CREATING SIGNIFICANT DISINFLATIONARY PRESSURES.
— Breaking Market News (@financialjuice) July 15, 2020