Bank of Canada
Canadian Monetary Policy Left Unchanged For Now
March 2, 2010
A new statement from Bank of Canada policymakers is more noteworthy for three dovish points from earlier statements that were deleted. They are Any mention of term Purchase and Resale Agreements. The last scheduled one of these is set for mid-April. Any mention of “flexible” policymaking. Beginning with the April 2009 statement, which announced the final rate [...] More
Bank of Canada Preview
March 1, 2010
In April 2009 when the Bank of Canada halved its overnight target rate to 0.25%, officials made a conditional promise not to raise that rate above 0.25% before the July 2010 meeting. The one stipulation expressed that the inflation outlook remain benign has not been jeopardized, so the central bank’s pledge has been reaffirmed after [...] More
Bank of Canada Monetary Policy Quarterly Report
January 21, 2010
As always, today’s Canadian central bank policy report provides a mountain of handy information. Several useful guideposts are provided, and then one can make inferences that illuminate even more clues about likely future policy. Projected economic growth in 2010 was revised upward from forecasts made in October to 2.5% in the United States from 1.8% assumed [...] More
Bank of Canada Preview
January 18, 2010
When the last Bank of Canada overnight rate target cut was implemented last April, a 25-basis point reduction to 0.25%, officials projected that “conditional on the outlook for inflation, the target overnight rate can be expected to remain at its current level until the end of the second quarter of 2010 in order to achieve [...] More
