Archive for April 21st, 2021

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