Bank of Canada decided to keep interest rates unchanged
After the interest rate meeting, the Bank of Canada decided to keep the interest rate unchanged at 0.25%, and promised to continue to implement a minimum of $5 billion in Canadian government bond purchase plan every week. The statement after the meeting pointed out that there are preliminary signs that the resumption of production and repressed production of enterprises and the suppressed demand are causing a preliminary rebound in employment and output, but believe that the economy still needs unconventional monetary policy support. To support the recovery and achieve inflation goals, the central bank is ready to provide further monetary stimulus if necessary. In addition, the central bank reiterated that although the global economy is restarting, the economic prospects of the world and Canada are still extremely uncertain.
Gold fell due to improved overall environmental and economic data
On Wednesday, the progress of the vaccine superimposed the financial results of three major banks including Goldman Sachs, which promoted the stock market to rise. At the same time, the US manufacturing data also improved significantly, so this caused gold to fall slightly. But on Wednesday, gold generally remained above $1800, and the resistance to decline was obvious, because despite the improvement in economic data, with the second spread of the epidemic, most investors are skeptical about the sustainability of the data improvement. In addition, some Fed officials further lowered the US economic expectations, which also constituted support for gold. Follow the US retail sales data, unemployment benefits data and the European Bank’s resolution.
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