BoC keeps overnight rates at +1%

Posted by Dean Popplewell at 9:24 am UTC, 10/25/2011

Some Key points in the Bank of Canada’s one page policy statement:

“Considerable Monetary Policy Stimulus” with rates at record low.

Economic momentum has slowed

Predicts brief recession in Euro area.

Assumes Euro debt crisis to be contained.

Cuts Canadian GDP to +2.1% in 2011, +1.9% in 2012 and ups 2013 to +2.9%

Inflation outlook roughly balanced.

Net exports a source of weakness, a stronger currency partially to blame.

Sees growth in China, other emerging markets, moderate to more sustainable pace.

The BoC more comprehensive Monetary Policy Reports is delivered on Wednesday 26 October.

Filed under: Central Bank Watch, USD, CAD

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Finance Minister Says No Recession Likely for Canada | OANDA Forex Blog on 10/26/2011 UTC at 11:34 am

Finance Minister Says No Recession Likely for Canada | CountingPips | Forex Blog | Currency Trading News on 10/26/2011 UTC at 12:29 pm

Finance Minister Says No Recession Likely for Canada | Forex Blog on 10/26/2011 UTC at 12:40 pm

Finance Minister Says No Recession Likely for Canada on 10/27/2011 UTC at 12:14 am

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BoC keeps overnight rates at +1%

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