The Bank of Canada (BOC) is the central bank of Canada. It was created in 1934 and is responsible for implementing the country’s monetary policy, issuing currency and promoting a safe and stable financial system. The main role of the bank is to “promote the economic and financial well-being of Canada”, as defined in the bank. of Canadian law. This includes maintaining the stability of the financial system, promoting a sound and efficient financial system, and promoting monetary conditions that sustain
Read this term raising rates will prove to be a mistake. There is plenty of deflation in the pipeline and consumers are being hit hard by mortgages. All Macklem needs to do is wait patiently.

Energy and petroleum product prices fell by 5.9% month-on-month and 33.2% year-on-year due to lower prices of diesel, gasoline, light heating oil and jet fuel. Prices of primary non-ferrous metals fell 2.8% month-on-month and 2.0% year-on-year due to lower copper, nickel and zinc alloy prices. Primary ferrous metal products fell 1.3% and food intermediates fell 3.8% month-on-month and 13.4% year-on-year. Meat, fish and dairy products rose 2.2% month-on-month and 4.5% year-on-year, and pulp and paper prices fell 1.8%.

The Canadian dollar is marginally higher today, bucking the trend in the AUD and NZD.