- Joined
- Mar 24, 2009
- Messages
- 16,743
OTTAWA -- The Bank of Canada said on Tuesday that a recovery from the "intense" recession is in the early stages, and as a result it has revised upward its economic outlook for the next year and a half.
Further, in a sign that it believes credit conditions in capital markets have improved, the central bank announced it would make less liquidity available to market participants in special transactions.
In its latest scheduled rate announcement, the central bank, as widely expected, kept its key policy rate at a record low 0.25%, and reiterated its commitment to keep it there until end of June of 2010.
But it provided a slightly more upbeat take on the road ahead, roughly 48 hours before the release Thursday of its quarterly economic forecast – although cautioning that a recovery is "nascent."
One analyst interpreted the statement as a declaration that the recession might be history.
Read the full article here.
Further, in a sign that it believes credit conditions in capital markets have improved, the central bank announced it would make less liquidity available to market participants in special transactions.
In its latest scheduled rate announcement, the central bank, as widely expected, kept its key policy rate at a record low 0.25%, and reiterated its commitment to keep it there until end of June of 2010.
But it provided a slightly more upbeat take on the road ahead, roughly 48 hours before the release Thursday of its quarterly economic forecast – although cautioning that a recovery is "nascent."
One analyst interpreted the statement as a declaration that the recession might be history.
Read the full article here.