On first day of Tiff Macklem's term as governor, Bank of Canada to make interest rate announcement
Economists expect the central bank will maintain its target for the overnight rate at 0.25 per cent, which former governor Stephen Poloz has repeatedly said is as low as it can go.
Poloz and the bank's governing council would have met over the past few days and finalized the rate decision last night.Macklem likely would have been part of the meetings, but it's unlikely that the language of the rate announcement will fully capture his views. Instead of focusing on the rate itself, experts say they will be paying close attention to the language used in the rate announcement about the expected path for the economy in the coming weeks and months.
Economic reports continue this week with Statistics Canada's look at the May jobs market scheduled for release Friday.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Big changes not in the cards for Bank of Canada as Tiff Macklem era beginsKevin Carmichael: Facing the most brutal recession ever, the central bank has already done almost everything it can
Read more »
Big changes not in the cards for Bank of Canada as Tiff Macklem era beginsKevin Carmichael: Facing the most brutal recession ever, the central bank has already done almost everything it can
Read more »
Linda Seymour named new president and chief executive of HSBC CanadaSeymour has been executive vice-president and head of commercial banking for Canada since 2012
Read more »
Rogers Centre to be used as temporary facility to help Food Banks CanadaRogers Communications and the Jays Care Foundation say the stadium, currently in disuse because of the COVID-19 pandemic and the suspension of the MLB season, will house more than 4.5 million kilograms of food
Read more »
Rogers Centre to become home to 10 million pounds of food - Sportsnet.caRogers Centre is set to become the temporary home to 10 million pounds of food as Rogers and JaysCare support foodbankscanada with the new Step Up to the Plate initiative.
Read more »
Mexico President urges caution during ‘new normal’ phase of COVID-19 restrictionsLópez Obrador makes first road trip in months to promote construction of the Mayan Train
Read more »