Objective: The Bank of Canada Act 1985, requires the BoC's to regulate credit and currency, control and protect the external value of the national monetary unit and to mitigate fluctuations in the general level of production, trade, prices and employment within the scope of monetary action. Since 1991, upon the adoption of inflation targeting, the BoC has also been required to keep inflation within a range of 1-3%.
As of February's report, inflation in Canada stands at 1.1% (1.0% prior) while the BoC's core measure slowed to 1.2% from a prior of 1.6%. Canada's other core measures - Median, Trim, Common - printed at 2.0%, 1.9% and 1.3% respectively.
Situation: At their March meeting, the BoC left monetary policy unchanged with the Overnight Rate remaining at its record low 0.25%. The BoC refrained from commenting on potential tapering, but stated that they continue to gain confidence in the strength of the recovery and the pace of purchases of government bonds will be adjusted as required.
The BoC stated they will continue to provide the appropriate degree of stimulus to support the economic recovery and achieve its inflation objective, stressing there is still considerable economic slack and uncertainty.
As of February's report, inflation in Canada stands at 1.1% (1.0% prior) while the BoC's core measure slowed to 1.2% from a prior of 1.6%. Canada's other core measures - Median, Trim, Common - printed at 2.0%, 1.9% and 1.3% respectively.
Situation: At their March meeting, the BoC left monetary policy unchanged with the Overnight Rate remaining at its record low 0.25%. The BoC refrained from commenting on potential tapering, but stated that they continue to gain confidence in the strength of the recovery and the pace of purchases of government bonds will be adjusted as required.
The BoC stated they will continue to provide the appropriate degree of stimulus to support the economic recovery and achieve its inflation objective, stressing there is still considerable economic slack and uncertainty.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.