Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program
The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank continues to provide extraordinary forward guidance on the path for the overnight rate, reinforced and supplemented by the Bank’s quantitative easing (QE) program. Effective the week of April 26, weekly net purchases of Government of Canada bonds will be adjusted to a target of $3 billion. This adjustment to the amount of incremental stimulus being added each week reflects the progress made in the economic recovery.
Original Article Source Credits: Bank Of Canada , https://www.bankofcanada.ca/
Article Written By: NA
Original Article Posted on: April 21, 2021
Link to Original Article: https://www.bankofcanada.ca/2021/04/fad-press-release-2021-04-21/