Bank of Canada Minutes Say Ahead Of Bank Of Canada's April 10 Rate Announcement, Governing Council Agreed That Any Monetary Policy Easing Would Probably Be Gradual; Governing Council Was Split Over When To Cut Rates; There Were Different Views On How Much More Assurance Was Needed To Be Confident That Inflation Was On A Sustainable Path Back To The 2% Target
Portfolio Pulse from Benzinga Newsdesk
The Bank of Canada's Governing Council was divided on the timing of rate cuts ahead of its April 10 announcement, with a consensus that any easing of monetary policy would be gradual. Members differed on the level of assurance needed to ensure inflation returns to the 2% target sustainably.
April 24, 2024 | 5:31 pm
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NEUTRAL IMPACT
The Bank of Canada's deliberations on monetary policy easing and rate cuts could influence investor sentiment towards Canadian assets, potentially impacting EWC.
As EWC tracks the Canadian market, the Bank of Canada's monetary policy decisions directly influence the economic outlook and investor sentiment towards Canadian assets. The uncertainty and gradual approach to rate cuts could lead to cautious optimism or uncertainty among investors, impacting EWC's performance in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75