BOC's Macklem Says Interest Rates Won't Return To Levels As Low As They Were Before The Covid Pandemic; In The Past There Have Been Periods Of Considerable Divergence With The Fed
Portfolio Pulse from Benzinga Newsdesk
Bank of Canada's Governor Tiff Macklem stated that interest rates are unlikely to return to pre-Covid pandemic levels. He also noted that there have been periods of significant divergence with the Federal Reserve's policies.
June 05, 2024 | 3:13 pm
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NEUTRAL IMPACT
The Bank of Canada's stance on interest rates suggests that Canadian economic conditions and monetary policy will differ from those in the US, potentially impacting the iShares MSCI Canada ETF (EWC).
The statement from the Bank of Canada suggests a divergence in monetary policy between Canada and the US, which could affect the performance of Canadian equities and, by extension, the iShares MSCI Canada ETF (EWC). However, the immediate impact on EWC may be neutral as the market may have already priced in such expectations.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50