Macklem Says Stimulus Will Continue To Support The Economy During The Recovery

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Following the Bank of Canada’s decision to leave its monetary policy rate unchanged at 0.25% as expected, Governor Tiff Macklem and Senior Lieutenant Governor Carolyn A. Wilkins are commenting on the prospects for politics at a press conference.

Key Comments:

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It will take a long time for the economy to recover completely from the COVID-19 pandemic. ”

“The Bank of Canada will continue to provide monetary stimulus to support the economy during the recovery“.

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The loonie has been a bit stronger than we assumed in July, despite continued low oil prices. ”

Some parts of the economy just won’t be able to reopen completely until a vaccine is widely available. ”

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Credits: Forex Street

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