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BoC keeps overnight rates at +1%

Posted by Dean Popplewell at 9:24 am EDT, 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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