Bank of Canada Maintains Overnight Rate

On December 2nd the Bank of Canada announced that it would not be changing the overnight rate, stating that inflation is in line with its outlook 

Regarding growth, the Bank stated that the Canadian economy is experiencing complex adjustments due to low commodity prices but expects growth to increase in 2016.

everal quarters of steady growth following the oil price shock of late 2014 may convince policymakers that the economy is no longer in need of the monetary stimulus injected into the economy via two rate cuts in early 2015. If so, the Bank may shift back to a tightening bias with a potential rate increase late next year or in early 2017.

Several quarters of steady growth following the oil price shock of late 2014 may convince policymakers that the economy is no longer in need of the monetary stimulus injected into the economy via two rate cuts in early 2015. If so, the Bank may shift back to a tightening bias with a potential rate increase late next year or in early 2017.



 

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