canada monetary policy report

Forex: USD/CAD collapses after BoC policy report

FXstreet.com (Barcelona) - CAD is rising against the USD after BoC report which didn't contain immediate measures about quantative easing or credit conditions. USD/CAD has fallen around 140 pips from 1.2380, break 1.2330 support and reach to 1.2238, intra-day low. Currently the pair is trading around 1.2275/85 after falling 0.90% so far today from 1.2392 opening price.Valeria Bednarik, FXstreet.com collaborator, comments related to the BoC report: The Bank of Canada present their monetary policy report, announcing additional easing measures,

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BOE's Besley Says Monetary and Fiscal Policy Still Have Work to Do

(CEP News) - The Bank of England's Tim Besley said Tuesday that monetary and fiscal policy still have a long way to go in getting the UK's banking system back on track.Speaking at the London School of Economics, Besley said keeping in line with an inflation target is difficult right now, given the weak economy and falling commodity prices.However, he said inflation should be pushed higher by the current weakness in the sterling.As for policy action, Besley said it's impossible

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Canadian Dollar Shoots Higher Following BOC's QE Framework

The Canadian Dollar is holding major gains following the release of the Bank of Canada's Monetary Policy Report.The report was relatively in line with the growth forecasts and statement the Bank released on Tuesday after cutting rates to 0.25%, according to some economists. The main highlight of the report was an annex outlining a framework for quantitative easing.According to some strategists, the framework lacked any concrete plans, which is supporting the Canadian dollar. Following the release of

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Fed to Safeguard Financial System, Says Fed Governor Duke

The U.S. banking system is facing serious challenges, but the Federal Reserve will continue to ensure that the banking system remains safe and sound and is able to meet the credit needs of our economy, Fed Governor Elizabeth Duke said before the House Financial Services Committee on Wednesday.While the Fed Governor gave lawmakers little new information regarding the state of the economy or monetary policy, she did point out that as the global economy begins to recover,

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BOE's Bean Says Quantitative Easing is the Next Step

(CEP News) - Bank of England Deputy Governor Charles Bean said Monday that quantitative easing is the next logical step now that rates are so low.Speaking in Birmingham, England, he said the bank made its first buy under the asset purchase facility as of Friday. He also said the monetary policy committee may have to act to avoid undershooting mid-term inflation goals. The bank's target rate currently sits at 1.00%. The bank's next meeting is on March 5.Bean

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BOE's Barker Says UK Recovery Could Take Longer Than Expected

The Bank of England's low interest rates will help the economy recover, but the recovery could take longer than expected, Bank of England Monetary Policy Committee member Kate Barker said on Wednesday.Speaking in an interview with Northern Echo newspaper, the central banker said the UK is experiencing a deep recession, which is being fought with powerful policies at the monetary and legislative levels.Although growth may not resume until the end of this year, a decline in the

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ECB's Nowotny Says Rates Below 1.00% "Open For Dicussion"

The view that interest rates in the euro zone should go below the 1.00% mark is open for discussion, but Austrian central bank governor Ewald Nowotny said he is personally against lowering rates below that threshold.Speaking in an interview with Bloomberg News on Thursday, Nowotny said the ECB must fight the crisis with all available tools, and that monetary policy needs to remain expansionary as the economic recovery remains weak.He also said that it would be sensible

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ECB Does Not Feel Restricted By Monetary Policy, Says Bini Smaghi

The European Central bank does not feel constrained in its monetary policy options, according to European Central Bank Governing Council member Lorenzo Bin Smaghi on Friday.We don't feel constrained, said the central banker, adding that the ECB is flexible when making its monetary policy. We've been able to take decisions in five minutes and we've done things rapidly, he said.Bini Smaghi went on to predict a bottoming in euro zone economic growth sometime towards the end of

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GBP/USD: Pound drops to 1.5050 after BoE monetary policy decision

FXstreet.com (Barcelona) ? BoE monetary policy decision has weighed on the Pound which has dropped to afresh intra-day low at 1.5050 from levels around 1.5065 before the Bank released its decisionOn the downside, if the Pound consolidates below 1.5070 previous intra-day low, next support level could come at 1.4980/90 (May 6 low); below there, 1.4945 (Apr 30 high). On the upside, resistance levels remain at 1.5165 (May 5 high) and above there, 1.5200 intra-day high and 1.5370.GBP/JPY has also dropped

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Forex: USD/CAD collapses after BoC policy report

FXstreet.com (Barcelona) - CAD is rising against the USD after BoC report which didn't contain immediate measures about quantative easing or credit conditions. USD/CAD has fallen around 140 pips from 1.2380, break 1.2330 support and reach to 1.2238, intra-day low. Currently the pair is trading around 1.2275/85 after falling 0.90% so far today from 1.2392 opening price.Valeria Bednarik, FXstreet.com collaborator, comments related to the BoC report: The Bank of Canada present their monetary policy report, announcing additional easing measures,

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