MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50%

MNI: BANK OF KOREA KEEPS POLICY RATE AT 3.50%: PRESS

UK Activity Data Due at 7:00 BST

Asia Sovs Steady Ahead Of US CPI, PH Defense Spending To Increase

Japan May Machine Orders -3.2% M/M

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Very Safe To Say Won't Lower Rates At Pace That Hiked Them - Macklem

CANADA
Paraphrasing questions from the BoC press conference
  • Q: You have policy decisions every six to seven weeks and a time will come when it makes sense to cut, how might you think about the frequency of rate cuts?
  • A: You’re getting a little ahead of yourself here. When we get to that point we’ll have more to say. It’s very safe to say we’re not going to be lowering rates at the pace that we raised them.
  • Q: Importance of forward guidance. What is your sense of how much forward guidance you’ll provide before you actually move rates or would you get straight to cutting?
  • A: One of the advantages of putting out our own forecasts or near-term updates (like today) is that we’re very clear about how things are evolving and what we’re watching. As the data comes out, everyone will have a sense of how it compares. Even if we’re not out there giving new assessments, the market and Canadians will see how things are evolving. We’re not giving forward guidance on our forward guidance. It’s fair to say that in giving indications of where we think things are headed on inflation rates, we want to give Canadians as much information as we have but don’t want to give a sense of false precision. We’ve seen progress but we need to see more progress.
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.