As largely expected - and forewarned - amid 'excess' liquidity and a 'functioning' market, the Bank of Canada has today confirmed it will end all its pandemic emergency liquidity programs. “We can take these steps because now there is ample system-wide liquidity for financial institutions to draw from,” Deputy Governor Gravelle said in prepared remarks before the CFA Society Toronto. The bank left its main government of Canada bond purchase program intact but Gravelle provided some insight into how quantitative easing will eventually be scaled back: BoC is evaluating how the process of adjusting ongoing purchases of ... (full story)