Bank of Canada to halt quantitative tightening program within months, RBC says

Economy
Written By Bloomberg

Derek Decloet of Bloomberg News reports that Bank of Canada Governor Tiff Macklem has been shrinking the central bank’s balance sheet for about two years, withdrawing the extraordinary stimulus it provided during the worst phase of the COVID-19 shock. The bank will likely return to a “stable balance sheet policy” in conjunction with its April 10 rate decision, Simon Deeley, RBC’s director of Canada rates strategy, said in a note to investors. That means the central bank will resume buying Canadian government bonds to replace those coming due.

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