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Rpt- MNI INTERVIEW: BOC Losses May Dent Inflation Fight- Tombe

(MNI) OTTAWA

Government still needs a legal fix on how to report Bank of Canada QE losses expected over several years.

The Bank of Canada will lose up to CAD8.8 billion on its QE bond purchase program over the next three years, an unprecedented situation that may undermine its message to the public about bringing inflation back to target, the author of a new study on the issue told MNI on Wednesday.

“Financial losses might be seen as a sign of poor management; we don’t think that is the case,” said Trevor Tombe, who co-authored the paper due out Thursday from the C.D. Howe Institute, which runs a shadow monetary council.

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The Bank of Canada will lose up to CAD8.8 billion on its QE bond purchase program over the next three years, an unprecedented situation that may undermine its message to the public about bringing inflation back to target, the author of a new study on the issue told MNI on Wednesday.

“Financial losses might be seen as a sign of poor management; we don’t think that is the case,” said Trevor Tombe, who co-authored the paper due out Thursday from the C.D. Howe Institute, which runs a shadow monetary council.

Keep reading...Show less