At the last meeting, the Bank of Canada left the interest rate unchanged. Steven Poloz, whose term of office ended at midnight on June 2, and Tiff Macklem, his successor, issued a joint interest rate statement on June 3, expressing confidence that the worst of the crisis has ended.
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"As market function improves and containment restrictions ease, the Bank’s focus will shift to supporting the resumption of growth in output and employment".
"The Bank maintains its commitment to continue large-scale asset purchases until the economic recovery is well underway. Any further policy actions would be calibrated to provide the necessary degree of monetary policy accommodation required to achieve the inflation target".
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Trade with the Fibo Group!
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"As market function improves and containment restrictions ease, the Bank’s focus will shift to supporting the resumption of growth in output and employment".
"The Bank maintains its commitment to continue large-scale asset purchases until the economic recovery is well underway. Any further policy actions would be calibrated to provide the necessary degree of monetary policy accommodation required to achieve the inflation target".
=======
Trade with the Fibo Group!
#fibogroup #forex #forexnews #economy #finance #trader #Canada #BoC #rates
