Comments from Bank of Canada Governor Steven Poloz: Will only use forward guidance during periods of market stress and periods when traditional tools are constrained Otherwise will let markets do their job, which is to deal with daily data flow … Continue reading
Just picking through the details of Poloz’s statement and while the BOC have cut back global growth forecasts the still have a positive outlook over the global outlook. The US economy is “gaining traction” and particularly in Canadian exports sectors, … Continue reading
The bank will run updates as to what is going on over there.
Highlights of the quarterly Bank of Canada monetary policy report October 2014 US GDP forecast raised to 2.2% from 1.6% for 2014, Lowers 2015 to 2.9% from 3.1% and 2017 to 2.7% from World growth raised to 3.1% from 2.9% … Continue reading
The BOC had hinted it may remove forward guidance but without saying ‘neutral’ the statement still indicates no bias toward hiking or cutting: “The Bank judges that the risks to its inflation projection are roughly balanced” Inflation is close to … Continue reading
EUR/USD has run some small stops as it breaks through 1.2700. The buck in general is seeing some positional adjustment as we head towards the inflation data at 12.30 gmt. USD/JPY isn’t really reacting though as it sits at 106.93. … Continue reading
Unscheduled comments from BOC Governor Poloz in an interview with Reuters. Does not know if he will take “neutral” out of statement If rate hikes become imminent, he will not signal it because “the market will know” Can be sensible … Continue reading
The comments are from slides on the BOC website. She’s due to answer audience questions later so there could be more headlines. USD/CAD touched 1.1210 in a fresh high. Update: Flipping through the slides, these two are interesting.
S&P has cut their forecasts for Canada’s 2014 real GDP to 2.3% from 2.5% saying that the disappointing economic growth is likely to continue. They see 2015 GDP at 2.7% which is slightly higher than market estimates of 2.5%. With … Continue reading
Comments from Wilkins in Toronto: Neutral rate before crisis was 4.5-5.5% Conventional policy can’t do much more in Canada Repeats that Canadian recover requires continued stimulus Slow growth outlook restraining Canada investment Monetary policy not main tool to cool Canadian … Continue reading