Reuters | Nov 26, 2020 17:30
Nov 26 (Reuters) -
* BANK OF CANADA GOVERNOR TIFF MACKLEM SAYS BANK HAS COMMITTED TO STOP BUYING GOV'T BONDS WHEN RECOVERY IS WELL UNDER WAY, MOST LIKELY BEFORE INFLATION RATE HITS 2% TARGET
* BOC'S MACKLEM: WE HAVE QUITE A LOT OF ROOM TO BUY MORE GOVERNMENT DEBT
* BOC'S MACKLEM: THERE ARE OTHER THINGS WE CAN DO, WE DO HAVE THE CAPACITY TO DO MORE THINGS IF NEEDED; AMPLE POTENTIAL TO SCALE UP QE IF THAT WERE NEEDED
* BOC'S MACKLEM: NEGATIVE RATES ARE IN OUR TOOLKIT BUT THEY WOULD NOT BE "TERRIBLY HELPFUL AT THIS TIME"
* BOC'S MACKLEM: WE COULD POTENTIALLY LOWER THE EFFECTIVE LOWER BOUND EVEN WITHOUT GOING NEGATIVE, IT'S AT 25 BPS, IT COULD BE A LITTLE BIT LOWER
* BOC'S MACKLEM: IT'S POSSIBLE THAT CONSUMER SPENDING COULD BE GREATER THAN EXPECTED IF THERE IS A VACCINE AND ECONOMY COULD RECOVER FASTER THAN FORECAST
* BOC'S MACKLEM: ASKED ABOUT POSSIBILITY OF STAGFLATION IN CANADA, SAYS DISINFLATIONARY ASPECTS OUTWEIGH PUSH ELEMENTS
Written By: Reuters
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