Economics
Bank of Canada’s Buying Spree In Spotlight: Decision-Day Guide
- Markets see chances of a change in policy Wednesday near zero
- New governor Macklem taking reins as balance sheet balloons
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Stephen Poloz will likely keep the Bank of Canada’s powder dry in his final policy decision, leaving the central bank’s next steps in the hands of incoming governor Tiff Macklem.
Since the Covid-19 outbreak hobbled the world economy, the central bank has taken unprecedented measures to keep Canadian financial markets functioning. Over the past three months, policy makers cut the benchmark interest rate by 150 basis points to 0.25%, matching a record low, and have nearly quadrupled the bank’s balance sheet to C$464 billion ($343 billion).