Poloz inverts Canada's yield curve by removing rate-hike bias

25 Avril, 2019, 02:38 | Auteur: Auguste Feret
  • Poloz inverts Canada's yield curve by removing rate-hike bias

"Growth during the first half of 2019 is now expected to be slower than was anticipated in January", which is why the bank is keeping its rate low, to help stimulate the economy, it said.

Canada's central bank held its benchmark interest rates steady at 1.75 per cent as expected but removed wording about the need for future rate hikes and lowered its growth forecast for 2019 to 1.2 per cent from 1.7 per cent.

The decision left the trend-setting rate at a still-stimulative 1.75 per cent for a fourth-straight announcement - a pause that followed governor Stephen Poloz's stretch of five hikes between mid-2017 and last fall. It also laid out a more dour growth forecast for this year than economists are expecting.

"Given all of these developments, governing council judges that an accommodative policy interest rate continues to be warranted", the bank said.

The central bank's March rate announcement said there was "increased uncertainty about the timing of future rate increases".

Earlier this month he said it was unclear how long the slowdown would last.

Nicole Kidman, Keith Urban attend church as a family
The former couple shares Bella , 26, and son Connor , 24, who is a DJ and reportedly lives in Miami. Kidman has always been vocal about her faith and has spoken openly about it in the past.

No charges to be filed against Chiefs star Tyreek Hill
Howe also added that his department "was deeply concerned" about what it believes occurred, though they can not prove who did it. The Chiefs released Kareem Hunt over a video that showed him shoving a woman , even though Hunt wasn't charged with a crime.

Tesla Model S et X : nouveaux moteurs pour une plus grande autonomie
Il s'adapte à la route, au conducteur et à la vitesse pour garantir un confort optimal. Un travail a en outre été réalisé pour améliorer le rendement des véhicules.

In January, the bank was expecting Canada's economy to grow by 1.7 per cent this year.

The overall inflation rate, meanwhile, is expected to dip in the third quarter before recovering to around 2 percent, the midpoint of the central bank's 1 percent to 3 percent target range. Today's statement went one step further, dropping the hawkish bias in favor of a neutral outlook: "We will continue to evaluate the appropriate degree of monetary policy accommodation as new data arrive".

The price of oil, one of Canada's major exports, pulled back from a six-month high as data showing rising US stocks countered fears of tight supply resulting from OPEC output cuts and USA sanctions on Venezuela and Iran.

Poloz has stressed the bank's dependence on data, and the statement Wednesday said it will pay close attention to the evolution of household spending, oil markets and global trade policy.

Chances of an interest rate cut by December rose to almost 70 per cent from 57 per cent before the policy announcement, data from the overnight index swaps market showed.

Looking ahead, the bank projects a gradual expansion of investment outside the oil and gas sector before it turns into solid growth in the second half of 2019.



New WHO guidelines on screen time say babies shouldn’t have any
Applying these recommendations during the first five years of life will contribute to children's lifelong health, WHO said. Sedentary screen time should be no more than 1 hour; less is better.

Police Remove Shovel, Other Items From Missing Boy's Home
Her lawyers say she initially helped but stopped amid fears she was considered a suspect in the child's disappearance. The cause of death has yet to be determined, Crystal Lake Police Chief Jim Black said Wednesday at a news conference.

Cinéma : L’acteur Jean-Pierre Marielle est mort à l’âge de 87 ans
Un rôle qui lui a valu une nomination aux César dans la catégorie meilleur acteur. " Les César? J'en ai rien à foutre! ". L'important, c'est devant la caméra. "Les récompenses, ça ne m'intéresse pas.

China welcomes PM Imran Khan's attendance in 2nd Belt and Road Forum
He said China hoped to provide better public goods to the countries along the Belt and Road through their cooperation. PM Imran will also meet world leaders on the sidelines of the forum.

Trump Admin to Ratchet Up Unilateral U.S. Sanctions on Iranian Oil
The plan demands the withdraw of Iranian forces from Syria and an end of support to Hizbollah and Hamas. Pompeo said the aim of the sanctions was to convince Iran to act like "a normal country".

Bun B Reportedly Shoots Home Invader, Suspect Arrested
He was treated and then arrested for two counts of aggravated robbery with a weapon and one count of burglary. Several hours later, a man turned up at a local hospital with a gunshot wound to his shoulder.

Eric Drouet se met en retrait — Gilets jaunes
Le leader historique du mouvement s'est expliqué sur un post Facebook, mercredi 24 avril, où il se dit " au bout de ses forces ". Dans une de ses vidéos, Eric Drouet précise: "Je pense que le prochain truc à faire, c'est le blocage des ports et raffineries".

Les 1.000 maillots Notre-Dame vendus en moins de 30 minutes — PSG
Le club a ainsi indiqué que " 500 ont trouvé preneurs sur Internet, 250 au Megastore et 250 sur les Champs ", selon 20 Minutes . Les travaux sont prévus pour durer au moins 5 ans .

CNAM : les cartes électroniques désormais opérationnelles
Du 10 mai au mois de novembre 2019, les assurés sociaux peuvent continuer à utiliser le support papier avec la carte électronique.

Colts won’t sign any free agents until after the draft
Let's get this straight: the Cardinals didn't provide him the requisite weapons to succeed and now he is only worth a pick in the 70s? That is all gone now?