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  • Bank of Canada maintains policy rate and forward guidance, ends quantitative easing

    From bankofcanada.ca

    The Bank of Canada today held 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’s extraordinary forward guidance on the path for the overnight rate is being maintained. The Bank is ending quantitative easing (QE) and moving into the reinvestment phase, during which it will purchase Government of Canada bonds solely to replace maturing bonds. The global economic recovery from the COVID-19 pandemic is progressing. Vaccines are proving highly effective against the virus, although their availability and ... (full story)

Added at 10:01am
  • *BOC Forecast Suggests Key Rate Could Rise In Middle Quarters of 2022, Ahead Of Prior Estimate

    — *Walter Bloomberg (@DeItaone) October 27, 2021
Added at 10:01am
  • BANK OF CANADA ENDS QUANTITATIVE EASING, MOVES TO REINVESTMENT :

    — IOTAF (@iotafmarkets) October 27, 2021
Added at 10:02am
  • BoC:

    Rate decision: Unchanged at 0.25%

    Hike guidance: Slack should be absorbed middle quarters of '22, expected H2 '22

    Taper pace: Ends QE, expected to be reduced to CAD 1bln/week from current CAD 2bln/week

    — Newsquawk (@Newsquawk) October 27, 2021
Added at 10:05am
  • BoC Statement Changes via @Newsquawk pic.twitter.com/lcasGNBLVW

    — PiQ  (@PriapusIQ) October 27, 2021
  • Comments
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  • Post #1
  • Quote
  • Oct 27, 2021 10:15am Oct 27, 2021 10:15am
  •  jordanvic
  • | Joined Jul 2020 | Status: Member | 309 Comments
go CAD go
 
 
  • Post #2
  • Quote
  • Oct 27, 2021 10:34am Oct 27, 2021 10:34am
  •  hans91
  • | Joined Jul 2018 | Status: Member | 49 Comments
macklem is very brave compared to the Fed with slow decision and slow action.
 
1
  • Post #3
  • Quote
  • Oct 27, 2021 10:50am Oct 27, 2021 10:50am
  •  umbrella man
  • | Joined Aug 2009 | Status: Member | 330 Comments
They didn’t have any other option. Every thing prices in Canada have been soaring in Canada. Congrats to the traders who could get big profit from this big move in UC.
 
 
  • Post #4
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  • Oct 27, 2021 11:32am Oct 27, 2021 11:32am
  •  Donfeb
  • | Joined Nov 2017 | Status: Member | 122 Comments
Sellers are done it's time for buyers to come in buying usdcad
 
 
  •  Guest
  • | IP X.XXX.180.255
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    Monetary Policy Report - October 2021

    From static.bankofcanada.ca|Oct 27, 2021

    Infl ation targeting and the economy ï‚§ The Bank’s mandate is to conduct monetary policy to promote the economic and fi nancial well-being of Canadians. ï‚§ Canada’s experience with infl ation targeting since 1991 has shown that the best way to foster confi dence in the value of money and to contribute to sustained economic growth, employment gains and improved living standards is by keeping infl ation low, stable and predictable. ï‚§ In 2016, the Government and the Bank of Canada renewed Canada’s infl ation-control target for a further fi ve-year period, ending December 31, 2021. The target, as measured by the rate of infl ation of the consumer price index (CPI), remains at the 2 percent midpoint of the control range of 1 to 3 percent. tweet at 10:02am: BOC: OUTPUT GAP WAS BETWEEN -2.25% TO -1.25% IN Q3, SMALLER THAN THE REVISED ESTIMATE OF -3.25% TO -2.25% IN Q2. tweet at 10:03am: BOC: 2021 Q2 ANNUALIZED GDP WAS -1.1% (VS +2.0% IN JULY MPR), Q3 ANNUALIZED GDP SEEN +5.5% (VS +7.3%), Q4 ANNUALIZED GDP SEEN +4.0%. tweet at 10:04am: BOC CUTS DOMESTIC GROWTH FORECASTS FOR 2021 AND 2022, CITING SEVERE SUPPLY DISRUPTIONS AND REDUCED FOREIGN DEMAND AS REASONS. tweet at 10:06am: BOC: CANADA'S FOURTH-QUARTER ANNUAL INFLATION RATE IS EXPECTED TO TOUCH 4.8%, WITH HIGHER ENERGY PRICES ACCOUNTING FOR ROUGHLY A THIRD OF THE INCREASE.

    EUR holds above 1.16 ahead of a neutral ECB

    From monetamarkets.com|Oct 27, 2021

    Among a phalanx of central bank meetings this week, the ECB gather tomorrow with no policy changes forecast. Since the last meeting in September, global energy prices have surged, ...

    Trading the Bank of Canada rate meeting

    From blog.hycmlab.com|Oct 27, 2021

    One of the best trading opportunities this week in the FX markets could well come from the BoC meeting today. The CAD has been well supported recently on three main factors. ...

    •   Newer Stories
    Bank of Canada prematurely ends bond buying program in surprise decision. Loonie jumps

    From forexlive.com|Oct 27, 2021

    Bank of Canada decision highlights October 27, 2021 • Bank of Canada slows pace of QE to $0B/week vs $1B/week expected • Prior pace of QE was $2 billion per week • extraordinary ...

    Crude Inventory Increases 4.3 Million Barrels

    From streetinsider.com|Oct 27, 2021|1 comment

    U.S. crude oil refinery inputs averaged 15.0 million barrels per day during the week ending October 22, 2021 which was 58,000 barrels per day more than the previous week’s average. Refineries operated at 85.1% of their operable capacity last week. Gasoline production increased last week, averaging 10.1 million barrels per day. Distillate fuel production increased last week, averaging 4.6 million barrels per day. U.S. crude oil imports averaged 6.3 million barrels per day last week, up by 430,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.3 million barrels per day, 15.2% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 493,000 barrels per day, and distillate fuel imports averaged 325,000 barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.3 million barrels from the previous week. At 430.8 million barrels, U.S. crude oil inventories are about 6% below the five year average for this time of year. Total motor gasoline inventories decreased by 2.0 million barrels last week and are about 3% below the five year average for this time of year. Finished gasoline inventories remained unchanged while blending components inventories decreased last week. Distillate fuel inventories decreased by 0.4 million barrels last week and are about 8% below the five year average for this time of year. Propane/propylene inventories increased by 2.0 million barrels last week and are about 15% below the five year average for this time of year. Total commercial petroleum inventories increased by 4.4 million barrels last week. tweet at 10:35am: *EIA REPORTS CUSHING SUPPLY DECLINE LARGEST SINCE JANUARYWTI Holds Losses After Big Crude Build, Cushing Stocks Plunge Oil prices tumbled overnight following a surprise crude build reported by API, but WTI has rebounded this morning after tagging a $82 handle to top $84. "There is little that can tilt oil prices away from their upwards momentum on the short term, as the only real supply source of significance is OPEC+, and there doesn't seem to be much mood for policy change on that front for the moment," said Louise Dickson, senior oil markets analyst at Rystad Energy, in daily market commentary. "There are only two offramps to the current bout of oil price volatility and one is OPEC+ taking supply action, but the group has repeatedly said it does not plan on altering its strategy," said Dickson. There's also the chance that "another round of COVID-19 breakouts and lockdowns could again dim the demand outlook," she said. "But it seems to be a last resort strategy for many economies that are tired of repeating the unpopular economy-damaging process." All eyes will be on the crude data as well as Cushing's offsets as refiners “are drawing down on Cushing at a pretty incredible pace right now,” said Phil Flynn, senior market analyst at The Price Futures Group. “We’re getting close to empty.”

    Bank of Canada Accelerates Potential Timing of Rate Hikes

    From bnnbloomberg.ca|Oct 27, 2021

    The Bank of Canada ended its bond buying stimulus program, and accelerated the potential timing of future interest rate increases amid worries that supply disruptions are driving ...

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  • Story Stats
  • Posted: Oct 27, 2021 10:00am
  • Submitted by:
     Newsstand
    Category: High Impact Breaking News
    Comments: 4  /  Views: 3,962
  • Linked events:
    CAD Overnight Rate
    CAD BOC Rate Statement
  • Related Stories
    Bank of Canada Accelerates Potential Timing of Rate Hikes
    From bnnbloomberg.ca|Oct 27, 2021
    Bank of Canada prematurely ends bond buying program in surprise decision. Loonie jumps
    From forexlive.com|Oct 27, 2021
    Trading the Bank of Canada rate meeting
    From blog.hycmlab.com|Oct 27, 2021
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