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Bank of Canada holds rate at 0.25%, maintains bond buying for now

September 8, 2021

There is little conviction among the closest observers of the Bank of Canada about when Macklem will next taper the bond-purchase program. Nye said there’s risk that policymakers could pause again at the end of October when they next meet to consider their stimulus program. At the same time, Karl Schamotta, chief market strategist at Cambridge Global Payments, observed that the Bank of Canada “remains one of the most hawkish central banks in the Group of Seven,” an interpretation that implies Macklem and his colleagues are leaning towards ending bond purchases as soon as economic conditions allow.

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