BoC’s Lane was on the wires today and there has been some downside in the price of USD/CAD.
Lane said that the BoC doesn’t see it as necessary to adopt negative rates and explained that the Central Bnak outlined the possibility of negative rates late last year in the event of a crisis. “$15 oil ought to do it.”
“Hiking to curb vulnerabilities in the financial system too costly. Monetary policy can’t take primary responsibility for maintaining financial stability”.
(Market News Provided by FXstreet)
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