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Jun 04 - 01:24 AM

CAD: BoC Poloz Didn't Make Any Waves In His Final Monetary Policy Decision - CIBC

By eFXdata  —  Jun 03 - 10:38 AM

CIBC Research discusses its reaction to today's BoC policy decision. 

"Stephen Poloz didn't make any waves in his final monetary policy decision, with only a scattering of adjustments to scale back the central bank's market operations. The Bank left the overnight rate at what it deems its effective lower bound of 0.25%, and made no changes to its large-scale asset purchase program of Government of Canada bonds.The only change came via reductions in the frequency of operations for repo and bankers' acceptances, as functioning in those markets have improved," 

"That said, the Bank went out of its way to state that he endorsed the decision. With Poloz not making any major changes today, it might not be too long until Macklem puts his stamp on policy, with a lot of work still left to be done to bring the economy back to life," CIBC adds. 

Source:
CIBC Research/Market Commentary

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