Bank of Canada continues taper
Central bank reduces QE by one-third to $2 billion weekly, but keeps interest rates stable
The Bank of Canada announced today (July 14) that it would continue to scale down its quantitative easing programme.
The central bank’s governing council reduced weekly purchases of government securities to C$2 billion (US$1.6 billion), down from C$3 billion. The policy rate will remain at 0.25%, the figure set in March 2020.
In its release, the Bank of Canada said: “This adjustment reflects continued progress towards recovery and the bank’s increased confidence in the strength of the Canadian
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