Bank of Canada ends quantitative easing

(AOF) – The Canadian dollar is up nearly 0.4% tonight against the euro, with the single currency now trading at 1.4317 CAD. The “loonie”, or loon, as it is nicknamed because of the bird which is represented there, thus benefits from the announcements this afternoon of the Bank of Canada, which decided to end its program of quantitative easing and maintain its target for the overnight rate at 0.25%.

The central bank “is entering the reinvestment phase, during which it will buy Government of Canada bonds only to replace maturing ones,” she also said.

It also predicts that the Canadian economy will grow by 5% this year, before moderating to 4.25% in 2022 and 3.75% in 2023.

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