Bank of Canada

Maxime Bernier Becomes First Major Western Political Leader to Call for a Gold Standard - Peter Diekmeyer (June 02, 2020)

June 02, 2020 Maxime Bernier, who recently became the world’s first major leader to call for the re-imposition of the gold standard, is quietly carving out a niche as one of the country’s most innovative monetary policy thinkers. “Central banks are printing massive amounts of currency to pre ...

Risks to Economic Outlook “Overblown,” But Rates to Stay Low: Poloz

Canada’s economy may prove surprisingly resilient in its recovery following the COVID-19 lockdown, according to Bank of Canada Governor Stephen Poloz. In his final press conference before stepping down as BoC Governor next month, Poloz said, “I’m relatively optimistic…compared with what the ...

BoC Optimistic on Economic Recovery, But No Rate Hikes Expected Until 2022

The Bank of Canada shared its optimistic outlook for Canada’s economic recovery on Tuesday. But that doesn’t mean rate hikes should be expected any time soon. After its decision to leave the overnight target rate unchanged at 0.25%, the Bank released this message: “[The economic impact of COVI ...

March 27, 2020

So the markets did not have a nice time today: Canada’s main stock market resumed its slide after a three-day winning run as investors grew more nervous about the spread of the coronavirus pandemic and the Bank of Canada slashed interest rates to nearly zero. The Toronto Stock Exchange’s S ...

March 31, 2020

A nice day, for some: The decimated energy sector has rallied hard off of 20-year lows, pushing Canadian stocks to a decent gain on a day that saw the U.S. market slip. For the first time since the COVID-19 pandemic consumed global financial markets starting in early March, the S&P/TSX Composite ...

BRF.PR.A To Reset At 3.137%; Interconvertible with BRF.PR.B

Brookfield Renewable Partners L.P. has announced (on April 1, they say, but I swear I looked on their site and on Globe Newswire that night and didn’t find anything): Brookfield Renewable Power Preferred Equity Inc. (“BRP Equity”) has determined the fixed dividend rate on its Class A Preferen ...

February 2020 Pricing Commentary

North American equity markets continued to set new all-time price records in February, up until the last ten days of the month, as escalating coronavirus fears brought extraordinary volatility to global equity markets. Despite this volatility, we remained committed to our investment stance and refr ...

Fed Issues Sunday FOMC Statement; Policy Rate Cut Full Point

The Federal Reserve has announced: The coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States. Global financial conditions have also been significantly affected. Available economic data show that the U.S. economy came into this cha ...

BoC Delivers Emergency Rate Cut; Stress Test Changes Suspended

For the first time since the financial crisis of 2009, the Bank of Canada has delivered an emergency inter-meeting rate cut of 50 bps. That brings the country’s key lending rate down to 0.75%, a level last seen in August 2017. “It is clear that the spread of the coronavirus is having serious con ...

BoC Cuts Policy Rates 50bp

The Bank of Canada has announced: The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¾ percent, effective Monday, March 16, 2020. The Bank Rate is correspondingly 1 percent and the deposit rate is ½ percent. This unscheduled rate decision is a proactive measu ...