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The Bank of Canada announced the decision taken at the meeting in May to leave interest rates unchanged. The overnight rate was kept at 1.75%. The Canadian regulator expects economic growth to accelerate in the second quarter. According to its estimates, in the coming months, inflation will be close to 2%, that is, it will practically correspond to its target indicator. The Central Bank also said that it will closely monitor the level of inflation and other economic indicators and, depending on them, make its own political decisions. After the last rate hike in October 2018, the Central Bank took a wait-and-see stance against the background of high household debt, as well as due to continued tension in trade relations between the United States and China. Bank experts point out the negative impact on Canadian exports of trade restrictions imposed by China. The regulator also noted signs of recovery in the oil sector and stabilization of the country's housing market.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
The Securities and Exchange Commission (SEC) announced on Monday that UBS Financial Services Inc. (UBSG) would pay more than $10 Million to resolve charges regarding certain municipal bond offerings. UBS has agreed to pay the fine after SEC ...
Major Japanese banks saw record demand for the corporate loans that were offered since April as the COVID-19 pandemic continues to have companies rushing in to build up cash reserves, according to a central bank survey on Friday. The figures ...
The French economy is emerging from the inactivity brought by the coronavirus outbreak as fast or faster than what was predicted a month earlier, Bank of France Governor Francois Villeroy de Galhau said on Sunday. Last month, the Bank of France ...
Safe-haven currencies were on the defensive on Tuesday as hopes of an economic recovery strengthened stock prices. The Pound Sterling was under pressure after British Prime Minister Boris Johnson pledged a “Rooseveltian" boost to public ...
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