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Bank of Canada releases review of exceptional policy actions taken during the pandemic
The Bank of Canada’s exceptional policy actions during the COVID-19 pandemic provided important support for the economy during the unprecedented shock, says a review published today. The review highlights lessons that will shape the Bank’s response in the event of future crises. “The Bank of Canada is a learning institution, and we must take on board the lessons from this unprecedented experience,” Bank of Canada Governor Tiff Macklem said. “This review is important for our accountability and will help us be better prepared and more effective should Canada ever face another economic crisis like this one.” ... (full story)
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BOC: GOVERNING COUNCIL AGREED THAT THE BAR FOR USING EXCEPTIONAL MONETARY POLICY TOOLS SHOULD REMAIN VERY HIGH.
— FinancialJuice (@financialjuice) January 17, 2025
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BOC: IT IS ALSO IMPROVING ITS FORECASTING TOOLS AND HAS STARTED WORK ON NEW GENERATION OF ECONOMIC MODELS.
— FinancialJuice (@financialjuice) January 17, 2025
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BOC: ITS OWN ANALYSIS INDICATES ITS POLICY ACTIONS, INCLUDING QE, DID NOT ON THEIR OWN PUSH INFLATION SIGNIFICANTLY ABOVE 2%.
— FinancialJuice (@financialjuice) January 17, 2025
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BOC: IN FUTURE, EXTRAORDINARY FORWARD GUIDANCE COULD BE MORE CLEARLY TIED TO THE INFLATION OUTLOOK AND EMPHASIZED MORE IN COMMUNICATIONS.
— FinancialJuice (@financialjuice) January 17, 2025