Bank of Canada policy makers emerged from interest rate deliberations this week hopeful the economy will avoid the most-severe outcome, with financial market functioning normalizing and amid signs the nation’s income support programs are working.
“Naturally, my colleagues on Governing Council and I talked a lot about where we think the economy will go from here,” Gravelle said in a speech that reaffirmed the optimistic tone from the rate decision Wednesday. “And we saw some reasons to be hopeful that the worst can be avoided.” “The Bank is prepared to augment the scale of any of its programs if needed to support market functioning,” Gravelle said. “And if further monetary stimulus is required to meet our inflation target, the Bank has tools available to deliver that stimulus.”
I think the Bank of Canada is day dreaming.
Here we go..
Trying to remember when 'hopeful' was a strategy...
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