Trends - Bank of Canada - Business Recorder

Business & Finance

Canada house prices to build up this year, outpace inflation

Affordability remains a concern. When asked to assess house prices on a scale of 1 to 10, where 1 is cheap and 10 is expensive, respondents rated national, Toronto and Vancouver at 7, 8 and 9, respectively.

Published 02 Feb, 2021 02:36pm

Business & Finance

Bank of Canada says medium term outlook brighter, risks remain

The central bank, outlining its quarterly economic forecasts, said that despite the stronger outlook it does not expect inflation to return sustainably to target until 2023.
The medium-term outlook is stronger than in the October Report because of the positive effects from vaccines, greater fiscal stimulus, stronger foreign demand and higher commodity prices.

Published 20 Jan, 2021 09:44pm

Markets

Canadian dollar gains as investors shrug off lower inflation

Canadian dollar strengthens 0.3% against the greenback.
Canada's annual inflation rate slows to 0.7% in December.
Price of US oil rises 1.3%.
Canadian bond yields rise across the curve.

Published 20 Jan, 2021 07:41pm

Markets

Dollar slips as US stimulus hopes lift mood

The Chinese yuan clung to modest gains in offshore trade at 6.4757 to the dollar ahead of a monthly interest rate fixing where traders expect no change in either one-year or five-year loan prime rates.

Published 20 Jan, 2021 12:25pm

Business & Finance

Bank of Canada Q4 survey finds businesses pointing to continued recovery

The Business Outlook Survey indicator continued to recover and turned slightly positive, signaling improved business sentiment.
Robust foreign demand, improved confidence related to vaccines, and ongoing government relief programs all contribute to the improved outlook.

Published 11 Jan, 2021 09:07pm

Markets

Dollar gets global beating as stimulus, Brexit boost risk appetite

The dollar index fell as low as 89.767 against a basket currencies, breaking below 90 for the first time since April 2018.

Published 17 Dec, 2020 08:35pm

Markets

Canadian dollar firms as investors eye U.S. stimulus progress

The Canadian dollar was trading 0.1pc higher at 1.2741 to the greenback, or 78.49 U.S. cents, having traded in a range of 1.2736 to 1.2771.

Published 15 Dec, 2020 08:03pm

Business & Finance

Bank of Canada reiterates that it could cut rates further

In speech to a business audience the day after the central bank held its key rate at a record low 0.25%.
Should things take a more persistent turn for the worse, we have a range of options at our disposal to provide additional monetary stimulus.

Published 11 Dec, 2020 12:39am

Business & Finance

Bank of Canada keeps key rate at 0.25pc, maintains QE policy

The central bank reiterated that rates would remain at their effective lower bound until economic slack is absorbed, with that not expected to happen until into 2023.

Published 09 Dec, 2020 09:13pm

Business & Finance

Bank of Canada will not ramp up bond buying, economists say

That was despite plans for C$100 billion of fiscal stimulus from the government, ultra-low interest rates and a scheduled C$16 billion of asset purchases per month by the BoC.

Published 04 Dec, 2020 06:34pm

Business & Finance

Bank of Canada says pandemic second wave to hit near term growth, holds rates steady

The central bank also said it was recalibrating its major asset purchase program to shift towards longer-term bonds.
There is a serious risk, however, that broader or more intensive restrictions could be required.

Updated 28 Oct, 2020 07:41pm

Business & Finance

Bank of Canada-linked working group set to analyze credit-sensitive benchmark

The Canadian Fixed Income Forum (CFIF) has expanded the mandate of the Canadian Alternative Reference Rate working group (CARR) to include an in-depth analysis of CDOR

Published 20 Oct, 2020 01:36am

Markets

Pandemic accelerates need to consider digital currency: Bank of Canada

The Bank of Canada has been exploring and building capacity for products like a central bank digital currency (CBDC).
"The main point, I think, is this is all looking a lot more urgent because of the speed with which technology is evolving," said Lane.

Published 15 Oct, 2020 12:24am

Business & Finance

Bank of Canada to revisit inflation-targeting, shadowing Fed

Just before the Fed's landmark decision to change its approach towards inflation rate targeting.
Over 30 economists in a Reuters poll predicted the BoC, which next meets on Sept. 9.

Published 04 Sep, 2020 05:39pm

Business & Finance

Bank of Canada sees no obvious alternative to inflation targeting

At the same time, the COVID-19 pandemic has crystallized that central banks are "likely to run out of conventional firepower" to address economic downturns in a low-interest-rate world,
We've identified some of the strengths and weaknesses of the different frameworks. But at this point, no single framework dominates on all margins.

Published 26 Aug, 2020 07:20pm

Business & Finance

Bank of Canada holds rate steady, sees economy below pre-COVID-19 levels until 2022

They've made it pretty clear that they're going to keep the pedal to the metal in terms of easy policy until the economy has recovered.
The Canadian dollar held on to earlier gains after the rate decision, trading at about C$1.3570, or 73.69 US cents.

Published 15 Jul, 2020 08:12pm

Business & Finance

Bank of Canada sees 'bumpy' recovery from pandemic

The pandemic is likely to inflict some lasting damage to demand and supply. The recovery will likely be prolonged and bumpy.
"Our main concern is to avoid a persistent drop in inflation by helping Canadians get back to work," Macklem said,

Published 22 Jun, 2020 09:15pm

Business & Finance

Bank of Canada holds rates steady, says COVID-19 impact has likely peaked

The bank slashed rates three times to a record low 0.25pc in March and launched its first ever large-scale bond buying program in response to the coronavirus pandemic and low oil prices.
The Canadian dollar rose to 1.3490 per US dollar, or 74.13 US

Published 03 Jun, 2020 07:52pm