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It’s been a busier day and night than on Tuesday, both in terms of news and market price action, even as the US heads into its Thanksgiving holiday. Tuesday’s ‘Happy (for markets) Thanksgiving theme has extended, with stock markets globally ending in, or currently in the green, though none by very much. The USD is smartly lower as the market focuses on the bad incoming US economic news at the expense of some good. One drag (on the S&P500) has been the Energy sub-sector on sharply lower oil prices (down more than 4%) on the view that the proposed cap on Russian oil export prices – not yet agreed but $65 or $70 … ( full story ) Good evening. I’m pleased to be here with SeniorDeputy Governor Carolyn Rogers to discuss ourrecent policy announcement and the Bank ofCanada’s Monetary Policy Report (MPR). In October,we raised the policy interest rate by 50 basis pointsto 3.75%. This is the sixth consecutive increase sinceMarch. We also expect our policy rate will need torise further. How much further will depend on howmonetary policy is working to slow demand, howsupply challenges are resolving and how inflation andinflation expectations are responding to thistightening cycle. […]
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