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Monetary Policy Report – January 2023
Inflation around the world remains high and broad-based, but in many countries it has receded from its peak, largely due to declines in energy prices. With continued easing in global supply chain disruptions, inflation in durable goods prices is also moderating. Economic activity in advanced economies has been stronger than expected, labour markets remain tight, and core inflation has yet to show sustained improvement. With inflation still too high, many central banks have continued to increase their policy rates to slow demand and bring inflation down. Russia’s invasion of Ukraine continues to disrupt commodity ... (full story)
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BOC: THE ECONOMIES OF THE UNITED STATES AND EUROPE ARE SLOWING, BUT THEY ARE PROVING MORE RESILIENT THAN PREDICTED IN THE OCTOBER MPR.
— Breaking Market News (@financialjuice) January 25, 2023
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BOC: CANADA'S GROWTH IS EXPECTED TO SLOW UNTIL THE MIDDLE OF 2023.
— Breaking Market News (@financialjuice) January 25, 2023
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BOC REITERATES THAT THE LIKELIHOOD OF A COUPLE OF QUARTERS OF SLIGHTLY NEGATIVE GROWTH IS ROUGHLY EQUAL TO THE LIKELIHOOD OF A COUPLE OF QUARTERS OF SLIGHTLY POSITIVE GROWTH.
— Breaking Market News (@financialjuice) January 25, 2023
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BOC: THERE IS MOUNTING EVIDENCE THAT TIGHT FISCAL POLICY IS SLOWING ACTIVITY, PARTICULARLY HOUSEHOLD SPENDING.
— Breaking Market News (@financialjuice) January 25, 2023
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From bankofcanada.ca|Jan 25, 2023The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of ...
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From fxdailyreport.com|Jan 25, 2023Gold prices trading lower today after yesterday’s new higher high. The price might be set to start a bearish correction to test the $1,900 and $1,850 levels. When the price manage ...
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From etfdb.com|Jan 25, 2023Up about 8% for gold and roughly 2% for silver within the past month, both precious metals could continue to experience an uptrend in prices, especially given the current ...
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From woodmac.com|Jan 25, 20232022’s extraordinary cash flows are in the rear-view mirror for most mining companies. Strong balance sheets give the majors options in 2023. But valuations are constricting M&A ...
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From bankofcanada.ca|Jan 25, 2023Press conference by Governor Tiff Macklem and Carolyn Rogers, Senior Deputy Governor (11:00 (ET) approx.).
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From @PriapusIQ|Jan 25, 2023tweet at 11:00am:
BOC'S MACKLEM - WE ARE TURNING THE CORNER ON INFLATION, BUT ARE STILL A LONG WAY FROM OUR TARGET - https://t.co/wXVagA44VK tweet at 11:01am: BOC'S GOV. MACKLEM: THE BANK OF CANADA HAS QUICKLY RAISED INTEREST RATES; NOW IS THE TIME TO PAUSE AND CONSIDER WHETHER MONETARY POLICY IS SUFFICIENTLY RESTRICTIVE. tweet at 11:00am: <CAD=>:
*MACKLEM SAYS FULL EFFECT OF HIKES TO DATE 'IS STILL TO COME' *MACKLEM: RATE PAUSE IS 'CONDITIONAL ON ECONOMIC DEVELOPMENTS' *HIKING TOO FAR RISKS UNDERSHOOTING INFLATION TARGET: MACKLEMMacklem: Monetary Policy Report Press Conference Opening Statement Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss today’s policy announcement and the Bank’s Monetary Policy Report (MPR). Our policy decision today has two elements. First, we raised our policy interest rate by 25 basis points to 4.50% and we are continuing quantitative tightening. Second, if economic developments evolve broadly in line with the forecast we published today, we expect to hold the policy rate at its current level while we assess the impact of the cumulative 425-basis-point increase in our policy rate. We have raised rates rapidly, and now it’s time to pause and assess whether monetary policy is sufficiently restrictive to bring inflat tweet at 11:04am: BoC’s Macklem: If We Need To Do More To Get Inflation To The 2% Target, We Will; If Upside Risks Materialise We Are Prepared To Raise Rates Further
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- Posted: Jan 25, 2023 10:00am
- Submitted by:Category: High Impact Breaking NewsComments: 0 / Views: 1,948
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