Bank of Canada Interest Rate Announcement - Nobody moves, nobody gets hurt
Victoria REALTOR® Shamus Baier's real estate blog discussing current events, topics, buying and selling homes in Victoria, BC. This episode ...
Victoria REALTOR® Shamus Baier's real estate blog discussing current events, topics, buying and selling homes in Victoria, BC. This episode ...
(Updates with Carney comment on rates in second paragraph, prime minister’s comment in third paragraph.)
Sept. 20 (Bloomberg) -- Bank of Canada Governor Mark Carney said the domestic economic recovery will be hobbled by a weak U.S. recovery that could tip into another recession, and that he may extend a period of low interest rates beyond when full output is restored.
“The United States is in the midst of the weakest recovery since the Great Depression, and the bank does not expect that to change at any time soon,” Carney, 46, said in a speech today in Saint John, New Brunswick. “Given current material headwinds, the policy rate can return to its long-run level after inflation is projected to reach the 2 percent target and output is projected to reach its potential.”
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“To the extent that the expansion continues and the current material excess supply in the economy is gradually absorbed, some of the considerable monetary policy stimulus currently in place will be withdrawn, consistent with achieving the two per cent inflation target,” the Bank of Canada said.
“Such reduction would need to be carefully considered.”
The latest statement compared with the bank’s May rate announcement that said “some of the considerable monetary policy stimulus currently in place will be eventually withdrawn.”
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Canada's Carney Says Weak US Recovery Has 'Limited Upside'
20 (Bloomberg) -- Bank of Canada Governor Mark Carney said the domestic economic recovery will be hobbled by a weak US recovery that could tip into another recession, and that he may extend a period of low interest rates beyond when full output is
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