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BOC’s Carney: To keep rate steady until at least end of June

BOC Governor Carney repeats that he plans to keep rates on hold at 0.25% until at least  the end of Q2, a vow he has stuck with for nearly a year, If I’m not mistaken.

By Jamie Coleman  || March 11, 2010 at 19:45 GMT
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BOC holds steady; CAD a drag on economy

Here is the statement.

By Jamie Coleman  || March 2, 2010 at 14:03 GMT
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Famous last words: No housing bubble

Could BOC Deputy Governor Jenkins be making the same mistake as Greenspan and Bernanke, in downplaying the existence of a housing bubble. He says he would certainly not say we are looking at a housing bubble. I hope for Canada’s sake he’s right…

By Jamie Coleman  || February 22, 2010 at 20:07 GMT
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Bank of Canada sticks with familiar story

BOC deputy governor Duguay repeats that the BOC will hold rates steady at least until the end of Q2. A strong CAD and lo US demand remain substantial drags on the economy, Duguay said.

By Jamie Coleman  || February 8, 2010 at 17:23 GMT
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BOC: Spring is right around the corner

The Canadian economy will recover lost ground by Q3 if the US and China don’t screw it up, says the BOC Governor.

By Jamie Coleman  || February 4, 2010 at 18:42 GMT
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BOC holds rates steady at 0.25%

They repeated their vow to keep them steady until at least mid-year.

The CAD is acting as a significant drag on the economy, the Bank said and inflation.

The economy will return to capacity by mid 20100 and be near the inflation target then.

USD/CAD is firming after the announcement.

By Jamie Coleman  || January 19, 2010 at 14:07 GMT
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BOC’s Carney sits for long TV interview

Governor Carney had a comprehensive (and quite lengthy) interview with Canada’s BNN. Topics covered include the potential for a Canadian housing bubble, the potential for a double-dip recession, China’s asset bubbles, US debt bubbles….Start here.

By Jamie Coleman  || December 17, 2009 at 18:23 GMT
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BOC leaves rates unchanged at 0.25%; maintains vow to leave them through Q2

  • C$ could act as further drag on growth, put downward pressure on inflation
  • maintains overall forth outlook despite weak Q3 GDP
  • repeats retains considerable flexibility on monetary policy at low rates (QE)
  • global economic recovery has improves since October
By Jamie Coleman  || December 8, 2009 at 14:03 GMT
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BOC’s Murray: Repeats strong C$ may fully offset positive developments since July

  • Strong C$ will slow growth, dampen inflation pressures, delay return to 2% inflation target
  • Repeats conditional BOC pledge to hold overnight rate at 0.25% until June 2010
  • Repeats BOC can use QE if needed to carry out monetary policy

USD/CAD sits at 1.0616, funnily enough exactly where it was when I was doing my morning wrap up.  Go figure.

By Gerry Davies  || November 4, 2009 at 16:02 GMT
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BOC’s Carney: “Substandard” recovery likely for US

BOC Governor Carney says it looks as though the US economy is set for a substandard recovery and that this should reduce US consumption. Canada should seek other markets, as a result. The dollar will remain the reserve currency of choice for the foreseeable future, he said.

By Jamie Coleman  || October 27, 2009 at 16:19 GMT
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