Canada Monetary Reserves Decline $30 Million
Bank of Canada Holds Policy Rate Steady, Expects Inflation to Peak in April
Trump's influence on oil prices and rising expectations of uncontrollable inflation have made global central banks hesitant to take action.
The second wave of energy shocks within five years is imminent, with the world's five major central banks expected to remain on hold this week. Trump's social media posts continue to stir the oil market, while conflicts in the Middle East make inflation trends difficult to predict. The Federal Reserve remains vigilant against the risk of high inflation becoming "entrenched" in the economy, whereas the European Central Bank feels more comfortable adopting a wait-and-see stance. Expectations for interest rate hikes by the Bank of Japan and the Bank of England have abruptly cooled. The painful lesson from misjudging inflation in 2022 is still fresh in the minds of central banks, leading them to prefer staying cautious rather than making hasty moves amid uncertainty.
PM Carney Says The U.S. Does Not Dictate Terms of CUSMA Renegotiations; Rules Out Concessions
Canadian Economy "Lacks a Vibrant Jobs Market", Says Rosenberg Research
Canadian Dollar Not Top of Best-Performing G10 Currency in March as Could Have Expected, Says MUFG