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.
“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“.
“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. ”
Credits: Forex Street