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14 Jul

Bank of Canada maintains policy rate and forward guidance, adjusts quantitative easing program

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Posted by: Aneta Zimnicki

Bank of Canada maintains overnight rate. Your variable rate mortgage remains unchanged. Not much change from the last announcement’s narrative. Provided more details about their inflation assessment. “The factors pushing up inflation are transitory, but their persistence and magnitude are uncertain and will be monitored closely.” Bank maintains 2% inflation target expected sometime in the second half of 2022. “We will continue to provide the appropriate degree of monetary policy stimulus to support the recovery and achieve the inflation objective.”