Central Bank Watch
Bank of Canada Reduces Pace of Bond Purchases and Adjusts Forward Guidance Slightly
April 21, 2021
As expected, Canada’s overnight interest rate target, which has been 0.25% since a trio of half-percentage point cuts in March 2020, was left unchanged. However, the targeted weekly amount of quantitative stimulus was lowered from “at least 4 billion” to $3 billion, according to a released statement. Governing Council members assert a continuing need for […] More
New Overnight Developments Abroad - Daily Update
Turkish Lira Under Renewed Pressure
April 21, 2021
A cabinet reshuffle in Turkey has depressed the lira 0.5% against the dollar to a 10-day low. Overall, the U.S. currency shows limited and mixed overnight movement with upticks of 0.3% versus the Swiss franc, 0.2% relative to the euro and 0.1% vis-a-vis sterling, no net change against the Japanese yen or Chinese yuan, but […] More
