Bank of Canada (BoC) Deputy Governor Toni Gravelle will discuss normalization of the central bank's balance sheet in a speech on March 21, the CFA Society of...
FILE PHOTO: A sign framed by maple leaves is pictured in front of the Bank of Canada building in Ottawa
There's been speculation among some analysts that the central bank would soon put the brakes on its quantitative tightening program, a counter measure adopted to suck out massive liquidity pumped into the financial system during the pandemic era. Deeley expects the speech would lay the groundwork for an end of QT and a move to replace maturing bonds on the BoC's balance sheet, likely at the April 10 policy announcement when the central bank is also due to update its economic forecasts. The BoC's next monetary policy decision is due on March 6.
The Canadian central bank launched QT in April 2022, aiming to reduce the size of its balance sheet after it purchased bonds in large scale to support the economy during the COVID-19 pandemic.
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