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Bank of Canada maintains policy rate, continues quantitative tightening
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Inflation in advanced economies has continued to come down, but with measures of core inflation still elevated, major central banks remain focused on restoring price stability. Global growth slowed in the second quarter of 2023, largely reflecting a significant deceleration in China. With ongoing weakness in the property sector undermining confidence, growth prospects in China have diminished. In the United States, growth was ... (full story)
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BOC SAYS IT DECIDED TO KEEP RATES AT 5% GIVEN RECENT EVIDENCE THAT EXCESS DEMAND IN ECONOMY IS EASING, AND GIVEN LAGGED EFFECTS OF MONETARY POLICY #News #Markets #BOC #live
— Capital Hungry (@Capital_Hungry) September 6, 2023
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BoC 'Concerned' About Sticky Inflation, Prepared To Hike Again
— LiveSquawk (@LiveSquawk) September 6, 2023
- Rate Path To Hinge On Excess Demand, CPI, Wages, Pricing
- Sees Higher CPI In Near Term, Little Downward Core Momentum
- Signs Excess Demand Easing, Lagged Hike Impacts Drove BoC Hold