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Press Conference: Monetary Policy Report – October 2023
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U.S. crude oil refinery inputs averaged 15.2 million barrels per day during the week ending October 20, 2023, which was 206 thousand barrels per day less than the previous week’s ...
China's outstanding structural monetary policy tools totalled 7.018 trillion yuan ($959 billion) at end-September, its central bank said on Wednesday, rising 2 per cent from 6.78 ...
The objective of Canada’s monetary policy is to promote the economic and fi nancial well-being of Canadians. Canada’s experience with infl ation targeting since 1991 has shown that the best way that monetary policy can achieve this goal is by maintaining a low and stable infl ation environment. Doing so fosters confi dence in the value of money and contributes to sustained economic growth, a strong and inclusive labour market and improved living standards. • In 2021, the Government of Canada and the Bank of Canada renewed the fl exible infl ation-targeting strategy of the monetary policy framework for a further fi ve-year period, ending December 31, 2026.1 The infl ation target was renewed at the 2% midpoint of the 1%–3% control range, with infl ation measured as the 12-month rate of change in the consumer price index (CPI). The Government and the Bank agreed that the best contribution monetary policy can make to the economic and fi nancial well-being of Canadians is to continue to focus on price stability. The Government and the Bank also agreed that monetary policy should continue to support maximum sustainable employment, recognizing that maximum sustainable employment is not directly measurable and is determined la post: BOC: INFLATION PROJECTED TO REMAIN PERSISTENTLY HIGH UNTIL MID-2024, IN PART DUE TO UPWARD PRESSURE FROM ENERGY AND SHELTER PRICES. post: BOC: WE NOW EXPECT INFLATION TO RETURN TO 2% TARGET BY END-2025; IN JULY WE HAD THOUGHT MID-2025. post: BoC: -We now expect inflation to return to 2% target by end-2025; in July we had thought mid-2025 -The economy is projected to move into modest excess supply in Q4 2023, and excess supply increases through most of 2024
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ood morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss today’s policy announcement and the Bank of Canada’s Monetary Policy Report (MPR). Today, we maintained our policy interest rate at 5%. We are also continuing our policy of quantitative tightening. Inflation has come down a lot since the summer of 2022, but as every Canadian knows, inflation is still too high. We held our policy rate steady today because monetary policy is working to cool the economy and relieve price pressures, and we want to give it time to do its job. But further easing in inflation is likely to be slow, and inflationary risks have increased. Let me expand on these themes and talk about the implications for monetary policy. Global economic growth is slowing as expected as higher interest rates and tighter financial conditions restrain demand. But the composition is a bit different than we forecast in July. The US economy has been surprisingly strong, w post: BoC's Macklem: Further Easing In Inflation Is Likely To Be Slow And Inflationary Risks Have Increased; Worried Higher Energy Prices And Persistence In Underlying Inflation Are Slowing Progress - We've Made A Lot Of Progress But We Are Not There Yet; We Need To Stay The Course post: BoC Macklem: C$ Has Been Reasonably Stable - We're Not Getting The Direct Effect Of An Appreciation To Lower Import Inflation - So That Does Mean We Have Got To Rely More On The Interest Rate post: BOC'S GOV. MACKLEM: THE BOC NEEDS TO SEE DOWNWARD MOMENTUM IN CORE INFLATION. post: BOC'S GOV. MACKLEM: NEAR-TERM INFLATION EXPECTATIONS ABOVE THE BOC'S FORECASTS.
post: ISRAEL AGREES TO DELAY GROUND INVASION OF GAZA: WSJ post: Breaking: Israel has agreed to delay its invasion of Gaza so the U.S. can get missile defenses in place to protect American troops in the region https://t.co/NGNANi57kI https://t.co/NGNANi57kI post: ISRAEL AGREES TO DELAY GROUND INVASION OF GAZA: WSJ The Pentagon is scrambling to deploy nearly a dozen air-defense systems to the region, including for U.S. troops serving in Iraq, Syria, Kuwait, Jordan, Saudi Arabia and the United Arab Emirates, to protect them from…
The Bank of Canada on Wednesday held its key overnight rate at 5.0% as expected and forecast weak growth, while leaving the door open to more rate hikes to tame inflation that ...
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- Posted: Oct 25, 2023 11:01am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,700
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