BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

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Bank of Canada Survey Shows Business Optimism Over Recovery

CANADA
  • The central bank's quarterly survey of business expectations found that overall sentiment improved during the spring to reach the highest level since the bank began measuring that indicator nearly 18 years ago. (Dow Jones)
  • Canada's economic recovery is expected to broaden to include more businesses with ties to the hard-hit services sector.
  • "The number of firms with improved indicators of future sales... is at a record high," the central bank said. It said that was "a concrete signal of a broad-based strengthening in demand relative to a year ago."
  • As of July 4, roughly 69% of Canadians had received at least one dose of a Covid-19 vaccine --ahead of the U.S. and U.K.-- and 35% were fully vaccinated.
  • Yesterday's strong survey results suggest the Bank of Canada will maintain a positive tone. The bank's next interest-rate announcement is due on July 14, and will be accompanied by a monetary policy report.
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