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Gravelle: Market stress relief: the role of the Bank of Canada’s balance sheet
Good afternoon. I always enjoy engaging with CFA charterholders, even virtually.1 It’s hard to believe we’ve been dealing with COVID-19 for as long as we have. The past year has had a profound impact on people’s lives, both in terms of their health and their economic and financial well-being. Canadians count on the Bank of Canada to make sure that the financial system works smoothly, especially in tough times when they depend on credit more than usual. So, a year ago, the Bank took unprecedented actions to ensure that the financial system could keep functioning normally and the economy could recover. Those ... (full story)
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BOC'S GRAVELLE: WE EXPECT OUR BALANCE SHEET TO DECLINE TO ABOUT C$475 BILLION BY THE END OF APRIL.
— Breaking Market News (@financialjuice) March 23, 2021
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BOC'S GRAVELLE: EVENTUALLY WE WILL REACH A POINT WHERE THE OUTCOMES OUTLINED IN OUR FORWARD GUIDANCE HAVE BEEN ACHIEVED, THEN WE WILL NEED TO START RAISING OUR POLICY RATE TO ACHIEVE OUR INFLATION OBJECTIVE #News #Forex #BOC #INFLATION
— Capital Hungry (@Capital_Hungry) March 23, 2021
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Bank of Canada to halt all remaining crisis liquidity programs.#BoC $CAD
— DailyFX Team Live (@DailyFXTeam) March 23, 2021
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Bank of Canada providing guidance on future policy normalization:
— DailyFX Team Live (@DailyFXTeam) March 23, 2021
- Next phase will be to bring net QE purchases to zero
- Dialing back of QE will be gradual and measured
- Scaling back of QE is not linked to policy rate decision