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Bank of Canada will maintain current level of policy rate until inflation objective is achieved, recalibrates its quantitative easing program
The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program. The Bank is recalibrating the QE program to shift purchases towards longer-term bonds, which have more direct influence on the borrowing rates that are most important for households and businesses. At the same time, total purchases will be gradually reduced to at least $4 billion a week. The Governing Council ... (full story)
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BANK OF CANADA SAYS TO SHIFT QE PURCHASES TOWARDS LONGER-TERM BONDS
— Breaking Market News (@breakingmkts) October 28, 2020
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Bank Of Canada Gradually Reducing Purchases To C$4B Per Week
— LiveSquawk (@LiveSquawk) October 28, 2020
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*BANK OF CANADA KEEPS BENCHMARK OVERNIGHT RATE AT 0.25%
— zerohedge (@zerohedge) October 28, 2020
*BANK OF CANADA SEES OUTPUT GAP, BELOW 2% INFLATION THROUGH 2022