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Essentials of Monetary Policy

Bank of Canada (BoC). Key Rates Will Remain at Their Floor for Many More Quarters

July 15, 2020
François Dupuis • Mathieu D’Anjou • Benoit P. Durocher • Hendrix Vachon

Without completely overhauling its economic scenario, the Monetary Policy Report released today nevertheless includes a central scenario that tries to “balance the likelihood of better and worse scenarios.” With respect to the BoC’s April projections, this new scenario is much less pessimistic and is in the upper range of the spring forecasts.