CA BOC Rate Statement
It's the primary tool the BOC uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions;
- History
| Expected Impact / Date | Description |
|---|---|
| Sep 4, 2024 | |
| Jul 24, 2024 | |
| Jun 5, 2024 | |
| Apr 10, 2024 | |
| Mar 6, 2024 | |
| Jan 24, 2024 | |
| Dec 6, 2023 | |
| Oct 25, 2023 | |
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- CA BOC Rate Statement News
From scotiabank.com|Sep 4, 2024The Bank of Canada met expectations by cutting its policy rate by 25bps to 4.25%, leaving balance sheet plans unchanged and signalling nothing more than a drip pace of data-dependent future cuts that offered no hint toward upsizing cuts. And markets couldn’t have cared less about any of it as the focus was on US data which ironically points out limits to the BoC’s standard line that what matters is what happens in Canada independent of the US. Please see the accompanying statement comparison. The original link to the statement is ...
From bankofcanada.ca|Sep 4, 2024Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss today’s policy announcement. Today, we lowered the policy interest rates by 25 basis points to 4.25%. This is the third consecutive decrease since June. Our decision reflects two main considerations. First, headline and core inflation have continued to ease as expected. Second, as inflation gets closer to target, we want to see economic growth pick up to absorb the slack in the economy so inflation returns sustainably to the 2% target. ...
From bankofcanada.ca|Sep 4, 2024The Bank of Canada today reduced its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is continuing its policy of balance sheet normalization. The global economy expanded by about 2½% in the second quarter, consistent with projections in the Bank’s July Monetary Policy Report (MPR). In the United States, economic growth was stronger than expected, led by consumption, but the labour market has slowed. Euro-area growth has been boosted by tourism and other services, while manufacturing has been soft. Inflation in both regions continues to moderate. In China, weak domestic demand weighed on economic growth. Global financial conditions have eased further since July, with declines in bond yields. The Canadian dollar has appreciated modestly, largely reflecting a lower US dollar. Oil prices are lower than assumed in the July MPR. post: MACKLEM: WE NEED TO INCREASINGLY GUARD AGAINST RISK THAT ECONOMY IS TOO WEAK AND INFLATION FALLS TOO MUCH post:
BANK OF CANADA LOWERS O/N INTEREST RATE TO 4.25% **BOC CITES CONTINUED EASING IN BROAD INFLATIONARY PRESSURES **BOC: EXCESS SUPPLY IN ECONOMY CONTINUES TO PUT DOWNWARD PRESSURE ON INFLATION, WHILE PRICE INCREASES IN SHELTER AND SOME OTHER SERVICES ARE HOLDING INFLATION UP… post: 
BOC'S GOV. MACKLEM: IF INFLATION CONTINUES TO EASE BROADLY IN LINE WITH OUR JULY FORECAST, IT IS REASONABLE TO EXPECT FURTHER RATE CUTS.Bank of Canada cuts interest rates for 3rd-straight month The Bank of Canada has cut its key interest rate for the third straight time, bringing it to 4.25 per cent. It was widely expected that the central bank would lower its key policy rate by a quarter of a percentage point to 4.25 per cent — which would mark its third consecutive rate cut. That’s despite economic growth coming in stronger than the Bank of Canada expected in the second quarter. Statistics Canada says the economy grew at an annualized rate of 2.1 per cent for that quarter. But real gross domestic product continued to shrink on a per-person basis, marking the fifth consecutive decline. Economists typically look at GDP per capita to assess the standard of living. Overall economic growth also halted toward the end of the quarter as real gross domestic product was essentially unchanged for June. A preliminary estimate suggested the economy remained flat in July as well. “Growth in the Canadian economy was modestly better than expected in Q2, but weak momentum heading into the third quarter gives ample reason for the BoC to continue cutting interest rates,” CIBC
From ca.finance.yahoo.com|Sep 4, 2024The Bank of Canada is expected to cut rates for the third consecutive time when it makes its interest rate announcement today at 9:45 a.m. ET, as it continues to loosen monetary policy. Economists widely predict that the central bank will cut interest rates by 25 basis points, which would bring its policy rate to 4.25 per cent. More cuts are expected to come this year. Although inflation continues to ease, moving closer to the central bank’s target of 2 per cent, concerns about the economy appear to be growing. Preliminary data ...
From bnnbloomberg.ca|Sep 4, 2024video One veteran economist says he expects the Bank of Canada to lower its key policy rate by 25 basis points Wednesday while signalling more cuts ahead, but says he disagreed with the consensus around a soft landing. According to a survey by Bloomberg last week, Canada’s central bank is not expected to deliver outsized rate cuts going forward. Instead, most economists surveyed are predicting 25 basis point cuts at the next five announcements until its key policy rate hits 3.25 per cent. Bloomberg News also reported that none of ...
From investmentexecutive.com|Jul 26, 2024Faced with headlines trumpeting rising financial stress, growing political polarization and looming climate calamity, Canadians may be understandably gloomy. Yet, a new report from Scotiabank argues that reality is much brighter than perception, and, without an attitude adjustment, negativity could become a self-fulfilling prophecy. Based on sentiment readings, such as the Conference Board of Canada’s confidence index and Bloomberg’s Economic Mood Index, Canadians haven’t been this unhappy since the global financial crisis, the ...
From scotiabank.com|Jul 24, 2024The Bank of Canada met our expectations in today’s announcements. The statement is here and see the statement comparison in the appendix. The MPR including updated forecasts is here. Governor Macklem’s opening remarks are here. They cut the policy rate by another 25bps to 4.5% from a 5% peak. They also left balance sheet plans unchanged and signalled no nearer-term appetite for changing them. Guidance continues to leave open the prospect of further rate reductions this year in keeping with our unchanged forecast for another 50bps of ...
From youtube.com/bankofcanadaofficial|Jul 24, 2024Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers answer reporters’ questions following the policy rate decision and the release of the Monetary Policy Report.
| Released on Sep 4, 2024 |
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| Released on Jul 24, 2024 |
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