Welcome back to another episode of Finance Friday! In this week's episode, we delve into the latest Bank of Canada announcement for March 6th, 2024. The Bank of Canada has maintained its overnight rate at 5% and continued its quantitative tightening policy.
Globally, economic growth has experienced a slowdown, with the US exhibiting robust but slightly decreased GDP growth, while the euro area saw flat growth. Inflation has eased in both regions.

In Canada, fourth-quarter GDP surpassed expectations but remained weak, with modest consumption growth and a decline in business investment offset by increased exports. CPI inflation decreased to 2.9% in January, with underlying inflationary pressures persisting.

Despite positive economic indicators, the Bank remains cautious about inflation risks and plans to maintain the current policy rate. The Bank's next policy rate announcement is scheduled for April 10, 2024, with a full economic outlook provided in the Monetary Policy Report at that time.
Governor Tiff Macklem emphasized that rate cuts are not currently being considered, citing recent inflation data aligning with expectations. However, concerns persist regarding core inflation, which remains above the target range. The Bank seeks further easing in core inflation for sustained improvement.

Federal Reserve Chair Jerome Powell highlighted the Fed's commitment to addressing inflation before considering policy easing. Analysts anticipate potential rate cuts in June if inflation continues to decline, with bond markets indicating a high likelihood of a rate cut at the June meeting.
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#FinanceFriday #BankofCanada #QuantitativeTightening #EconomicGrowth #Inflation #PolicyRate #GDP #CPI #MonetaryPolicy #TiffMacklem #FederalReserve #JeromePowell #RateCuts #RealEstate #Mortgage #EconomicOutlook #CentralBanking

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Links

https://www.bankofcanada.ca/

https://www.insidehalton.com/news/res...

https://www.thestar.com/real-estate/i...

https://www.canadianmortgagetrends.co...

https://stocks.apple.com/AGHkZoPp0QrK...

https://ca.news.yahoo.com/boc-announc...

https://www.theglobeandmail.com/busin...
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