Bank of Canada (BoC)

Data released on Tuesday showed inflation rose above expectation in August. Analysts at CIBC, hold the view that the Bank of Canada will stay the course, continuing to suggest that much of the latest rise in inflationary pressures is transitory. “Canadian inflation climbed even higher-than-expected in August, but that might represent the summit of the mountain. Base effects are set to fade further and the fourth wave will likely create another headwind for services prices this fall and winter."

In a widely expected decision, the Bank of Canada (BoC) announced on Wednesday that it left its key rate unchanged at 0.25% following the April policy meeting. Additionally, the BoC noted that it is adjusting the weekly net purchases of the government of Canada bonds to a target of C$3 billion from C$4 billion. With the initial market reaction, the USD/CAD pair lost more than 50 pips in a matter of minutes and was last seen losing 0.48% on a daily basis at 1.2547. "Adjustment to the amount of incremental stimulus being added each week reflects the progress made in the economic recovery." "BoC remains committed to holding the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2% inflation target is sustainably achieved."

In a widely expected decision, the Bank of Canada (BoC) announced on Wednesday that it left its key rate unchanged at 0.25% following the March policy meeting. Key takeaways from policy statement as summarized by Reuters: "Will hold the current level of policy rate until inflation objective is sustainably achieved, will continue quantitative easing."

The Bank of Canada has left its interest rate unchanged at 0.25% as anticipated. In its accompanying statement, the Ottawa-based institution said that inflation is set to return to 2% in a sustainable manner by 2023.

In a widely expected decision, the Bank of Canada (BoC) announced on Wednesday that it left its key rate unchanged at 0.25% following its December policy meeting. "Maintaining extraordinary forward guidance, reinforced and supplemented by quantitative easing program, which continues at its current pace of at least C$4 billion per week."