Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program. Exact same words as last announcement. Comments on temporary factors for inflation.
“There is still considerable excess capacity, and the recovery continues to require extraordinary monetary policy support. We remain committed to holding the policy interest rate at the effective lower bound until economic slack is absorbed. Based on the Bank’s latest projection, this is now expected to happen some time in the second half of 2022.”
Next announcement July 14.