{"id":72,"date":"2020-04-15T16:57:06","date_gmt":"2020-04-15T20:57:06","guid":{"rendered":"https:\/\/www.millerwark.com\/blog\/?p=72"},"modified":"2020-05-17T17:01:43","modified_gmt":"2020-05-17T21:01:43","slug":"boc-maintains-overnight-rate-target","status":"publish","type":"post","link":"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/","title":{"rendered":"BOC Maintains Overnight Rate Target"},"content":{"rendered":"<p>BANK OF CANADA: April 15th, 2020 the Bank of Canada maintained its target for the overnight rate at \u00bc percent, which the Bank considers its effective lower bound. The Bank Rate is correspondingly \u00bd percent and the deposit rate is \u00bc percent. The Bank also announced new measures to provide additional support to Canada\u2019s financial system.<br \/>\n\u2800\u2800\u2800\u2800\u2800\u2800\u2800\u2800\u2800<br \/>\nThe necessary efforts to contain the COVID-19 pandemic have caused a sudden and deep contraction in economic activity and employment worldwide. In financial markets, this has driven a flight to safety and a sharp repricing of a wide range of assets. It has also pushed down prices for commodities, especially oil. In this environment, the Canadian dollar has depreciated since January, although by less than many other currencies. The sudden halt in global activity will be followed by regional recoveries at different times, depending on the duration and severity of the outbreak in each region. This means that the global economic recovery, when it comes, could be protracted and uneven.<br \/>\n\u2800\u2800\u2800\u2800\u2800\u2800\u2800\u2800\u2800<br \/>\nThe Canadian economy was in a solid position ahead of the COVID-19 outbreak, but has since been hit by widespread shutdowns and lower oil prices. One early measure of the extent of the damage was an unprecedented drop in employment in March, with more than one million jobs lost across Canada. Many more workers reported shorter hours, and by early April some six million Canadians had applied for the Canada Emergency Response Benefit.<br \/>\n\u2800\u2800\u2800\u2800\u2800\u2800\u2800\u2800\u2800<br \/>\nThe outlook is too uncertain at this point to provide a complete forecast. However, Bank analysis of alternative scenarios suggests the level of real activity was down 1-3 percent in the first quarter of 2020, and will be 15-30 percent lower in the second quarter than in fourth-quarter 2019.<br \/>\n\u2800\u2800\u2800\u2800\u2800\u2800\u2800\u2800\u2800<br \/>\nFor more information visit Bank of Canada website at <a href=\"http:\/\/www.bankofcanada.ca\">bankofcanada.ca<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BANK OF CANADA: April 15th, 2020 the Bank of Canada maintained its target for the overnight rate at \u00bc percent, which the Bank considers its effective lower bound. The Bank &hellip; [<a href=\"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/\">read more<\/a>]<\/p>\n","protected":false},"author":2,"featured_media":73,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30,18],"tags":[32,31,8],"class_list":["post-72","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-insights","tag-bank-of-canada","tag-finance","tag-millerwark-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BOC Maintains Overnight Rate Target - MW Insider<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BOC Maintains Overnight Rate Target - MW Insider\" \/>\n<meta property=\"og:description\" content=\"BANK OF CANADA: April 15th, 2020 the Bank of Canada maintained its target for the overnight rate at \u00bc percent, which the Bank considers its effective lower bound. The Bank &hellip; [read more]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/\" \/>\n<meta property=\"og:site_name\" content=\"MW Insider\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-15T20:57:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-17T21:01:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.millerwark.com\/blog\/wp-content\/uploads\/2020\/05\/Bank-of-Canada-1024x682.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"682\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"millerwark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"millerwark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/boc-maintains-overnight-rate-target\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/boc-maintains-overnight-rate-target\\\/\"},\"author\":{\"name\":\"millerwark\",\"@id\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/#\\\/schema\\\/person\\\/b187d327f7b72cda7b35ab31d1699001\"},\"headline\":\"BOC Maintains Overnight Rate Target\",\"datePublished\":\"2020-04-15T20:57:06+00:00\",\"dateModified\":\"2020-05-17T21:01:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/boc-maintains-overnight-rate-target\\\/\"},\"wordCount\":299,\"image\":{\"@id\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/boc-maintains-overnight-rate-target\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/05\\\/Bank-of-Canada.jpg\",\"keywords\":[\"Bank of Canada\",\"Finance\",\"MillerWark Real Estate\"],\"articleSection\":[\"Banking\",\"Insights\"],\"inLanguage\":\"en-CA\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/boc-maintains-overnight-rate-target\\\/\",\"url\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/boc-maintains-overnight-rate-target\\\/\",\"name\":\"BOC Maintains Overnight Rate Target - MW Insider\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/boc-maintains-overnight-rate-target\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/boc-maintains-overnight-rate-target\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/05\\\/Bank-of-Canada.jpg\",\"datePublished\":\"2020-04-15T20:57:06+00:00\",\"dateModified\":\"2020-05-17T21:01:43+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/#\\\/schema\\\/person\\\/b187d327f7b72cda7b35ab31d1699001\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/boc-maintains-overnight-rate-target\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/boc-maintains-overnight-rate-target\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/boc-maintains-overnight-rate-target\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/05\\\/Bank-of-Canada.jpg\",\"contentUrl\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/05\\\/Bank-of-Canada.jpg\",\"width\":2000,\"height\":1333,\"caption\":\"Bank of Canada financial building exterior in Ottawa Canada\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/boc-maintains-overnight-rate-target\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BOC Maintains Overnight Rate Target\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/\",\"name\":\"MW Insider\",\"description\":\"Find out what\u2019s happening in Vancouver Real Estate from the MillerWark Team!\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/#\\\/schema\\\/person\\\/b187d327f7b72cda7b35ab31d1699001\",\"name\":\"millerwark\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c3f423a5a33b2d103ed1be6d8a5241a3b529342efc1470e714ad7ee660f02dc8?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c3f423a5a33b2d103ed1be6d8a5241a3b529342efc1470e714ad7ee660f02dc8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/c3f423a5a33b2d103ed1be6d8a5241a3b529342efc1470e714ad7ee660f02dc8?s=96&d=mm&r=g\",\"caption\":\"millerwark\"},\"url\":\"https:\\\/\\\/www.millerwark.com\\\/blog\\\/author\\\/millerwark\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"BOC Maintains Overnight Rate Target - MW Insider","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/","og_locale":"en_US","og_type":"article","og_title":"BOC Maintains Overnight Rate Target - MW Insider","og_description":"BANK OF CANADA: April 15th, 2020 the Bank of Canada maintained its target for the overnight rate at \u00bc percent, which the Bank considers its effective lower bound. The Bank &hellip; [read more]","og_url":"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/","og_site_name":"MW Insider","article_published_time":"2020-04-15T20:57:06+00:00","article_modified_time":"2020-05-17T21:01:43+00:00","og_image":[{"width":1024,"height":682,"url":"https:\/\/www.millerwark.com\/blog\/wp-content\/uploads\/2020\/05\/Bank-of-Canada-1024x682.jpg","type":"image\/jpeg"}],"author":"millerwark","twitter_card":"summary_large_image","twitter_misc":{"Written by":"millerwark","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/#article","isPartOf":{"@id":"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/"},"author":{"name":"millerwark","@id":"https:\/\/www.millerwark.com\/blog\/#\/schema\/person\/b187d327f7b72cda7b35ab31d1699001"},"headline":"BOC Maintains Overnight Rate Target","datePublished":"2020-04-15T20:57:06+00:00","dateModified":"2020-05-17T21:01:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/"},"wordCount":299,"image":{"@id":"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/#primaryimage"},"thumbnailUrl":"https:\/\/www.millerwark.com\/blog\/wp-content\/uploads\/2020\/05\/Bank-of-Canada.jpg","keywords":["Bank of Canada","Finance","MillerWark Real Estate"],"articleSection":["Banking","Insights"],"inLanguage":"en-CA"},{"@type":"WebPage","@id":"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/","url":"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/","name":"BOC Maintains Overnight Rate Target - MW Insider","isPartOf":{"@id":"https:\/\/www.millerwark.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/#primaryimage"},"image":{"@id":"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/#primaryimage"},"thumbnailUrl":"https:\/\/www.millerwark.com\/blog\/wp-content\/uploads\/2020\/05\/Bank-of-Canada.jpg","datePublished":"2020-04-15T20:57:06+00:00","dateModified":"2020-05-17T21:01:43+00:00","author":{"@id":"https:\/\/www.millerwark.com\/blog\/#\/schema\/person\/b187d327f7b72cda7b35ab31d1699001"},"breadcrumb":{"@id":"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/"]}]},{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/#primaryimage","url":"https:\/\/www.millerwark.com\/blog\/wp-content\/uploads\/2020\/05\/Bank-of-Canada.jpg","contentUrl":"https:\/\/www.millerwark.com\/blog\/wp-content\/uploads\/2020\/05\/Bank-of-Canada.jpg","width":2000,"height":1333,"caption":"Bank of Canada financial building exterior in Ottawa Canada"},{"@type":"BreadcrumbList","@id":"https:\/\/www.millerwark.com\/blog\/boc-maintains-overnight-rate-target\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.millerwark.com\/blog\/"},{"@type":"ListItem","position":2,"name":"BOC Maintains Overnight Rate Target"}]},{"@type":"WebSite","@id":"https:\/\/www.millerwark.com\/blog\/#website","url":"https:\/\/www.millerwark.com\/blog\/","name":"MW Insider","description":"Find out what\u2019s happening in Vancouver Real Estate from the MillerWark Team!","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.millerwark.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":"Person","@id":"https:\/\/www.millerwark.com\/blog\/#\/schema\/person\/b187d327f7b72cda7b35ab31d1699001","name":"millerwark","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/secure.gravatar.com\/avatar\/c3f423a5a33b2d103ed1be6d8a5241a3b529342efc1470e714ad7ee660f02dc8?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c3f423a5a33b2d103ed1be6d8a5241a3b529342efc1470e714ad7ee660f02dc8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c3f423a5a33b2d103ed1be6d8a5241a3b529342efc1470e714ad7ee660f02dc8?s=96&d=mm&r=g","caption":"millerwark"},"url":"https:\/\/www.millerwark.com\/blog\/author\/millerwark\/"}]}},"_links":{"self":[{"href":"https:\/\/www.millerwark.com\/blog\/wp-json\/wp\/v2\/posts\/72","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.millerwark.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.millerwark.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.millerwark.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.millerwark.com\/blog\/wp-json\/wp\/v2\/comments?post=72"}],"version-history":[{"count":1,"href":"https:\/\/www.millerwark.com\/blog\/wp-json\/wp\/v2\/posts\/72\/revisions"}],"predecessor-version":[{"id":74,"href":"https:\/\/www.millerwark.com\/blog\/wp-json\/wp\/v2\/posts\/72\/revisions\/74"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.millerwark.com\/blog\/wp-json\/wp\/v2\/media\/73"}],"wp:attachment":[{"href":"https:\/\/www.millerwark.com\/blog\/wp-json\/wp\/v2\/media?parent=72"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.millerwark.com\/blog\/wp-json\/wp\/v2\/categories?post=72"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.millerwark.com\/blog\/wp-json\/wp\/v2\/tags?post=72"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}