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Top related persons:
Derek Holt - 1 Macklem - 1 Holt - 1 Marc Chandler - 1 Steve Scherer - 1 Fergal Smith - 1 Denny Thomas - 1 Matthew Lewis - 1
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Bannockburn Ottawa Toronto
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OTTAWA - 1 Bank of Canada - 1 BoC - 1 Scotiabank . - 1 Canadian Real Estate Association - 1 Bannockburn Global Forex - 1 Thomson - 1

Search resuls for: "Steve Scherer Fergal Smith"


2 mentions found


☆ Analysis: Bank of Canada hones messaging as inflation defies forecasts
  + stars: | 2023-07-17 | by ( Steve Scherer Fergal Smith | Steve Scherer | Fergal Smith | ) www.reuters.com   time to read: +4 min
Macklem came under a rare attack last year from opposition politicians for misjudging inflation and locking in to a rigid forward guidance. "We are turning the corner on inflation," Macklem told reporters in January when the BoC became the first major central bank to announce a pause. The central bank's tightening campaign is a major concern for Canadians who loaded up on cheap mortgages and took on credit card and other debt in recent years. "Now maybe you're getting a certain maturity of the central bank that says, 'We're not going to do that again,'" Holt said. He assured Canadians during the pandemic that rates would rise only in 2023 when it expected the economic slack to be absorbed, but the central bank began hiking rates in March 2022 as inflation spiked.
Persons: Derek Holt, Macklem, Holt, Marc Chandler, Steve Scherer, Fergal Smith, Denny Thomas, Matthew Lewis Organizations: OTTAWA, Bank of Canada, BoC, Scotiabank ., Canadian Real Estate Association, Bannockburn Global Forex, Thomson Locations: Bannockburn, Ottawa, Toronto
☆ China reopening is wild card for Canada sticking economic soft landing, analysts say
  + stars: | 2023-02-06 | by ( Steve Scherer Fergal Smith | Steve Scherer | Fergal Smith | ) www.reuters.com   time to read: +3 min
That prompted the central bank to pause its most aggressive tightening cycle for now, becoming the first major central bank to do so. Traders have already bid up Canadian stocks and the Canadian dollar , dubbed a 'commodity currency', since the news of China reopening surfaced in December. Doug Porter, chief economist at BMO Capital Markets, said that for Canada, China's reopening is more a "clear-cut positive" than it would be for other countries with fewer commodities exports. The U.S. Federal Reserve, the European Central Bank and the Bank of England have since laid the groundwork for a pause as well. Karl Schamotta, chief market strategist at Corpay said China's reopening will help put a floor under global price levels, potentially offsetting demand destruction as economies slow.
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