The Bank of Canada held its policy rate at 0.25% today (April 21), but announced it was cutting purchases under its quantitative easing programme.
Citing improving economic conditions, the central bank will reduce its asset purchases to C$3 billion (US$2.4 billion) weekly from April 26, from C$4 billion.
In a press conference, Macklem said that the BoC would hold the rate at “the effective lower bound until economic slack is absorbed”. It expects this to come in the last half of 2022.
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