Central Banks

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The Bank of England MPC at it's March meeting voted unanimously to maintain Bank Rate at 0.1%. The Committee voted unanimously to maintain corporate bond purchases at £20 billion and government bond purchases at £875.

ECB left rates unchanged as expected in March. The bank left deposit facility interest rates at -.50% and held steady rates on the main refinancing operations and on the marginal lending facility unchanged. Will maintain supportive measures "until it judges that the coronavirus crisis phase is over"

The Bank of Canada left the key lending rate at 0.25 percent on Wednesday as expected. BoC repeated it will hold interest rate at the effective lower bound until economic slack is absorbed. GDP growth in the first quarter of 2021 now expected to be positive, rather than the contraction forecast in January

The Federal Reserve kept rates unchanged at their January meeting, kept QE infinity open with TALF for open-ended Treasuries, MBS and corporate bonds in amounts needed. Fed will continue to buy paper at current pace of $120B/month of Treasuries and MBS combined. Compare that to $40B/month in QE3.

ECB left rates unchanged as expected in January. The bank left deposit facility interest rates at -.50% and held steady rates on the main refinancing operations and on the marginal lending facility unchanged. Will maintain supportive measures "until it judges that the coronavirus crisis phase is over"

The Bank of Canada left the key lending rate at 0.25 percent on Wednesday as expected. BoC repeated it will hold interest rate at the effective lower bound until economic slack is absorbed, BoC repeats to buy more longer-dated bonds, with pace of QE to be gradually reduced to $4B week from $5B week

The Federal Reserve kept rates unchanged at their December meeting, kept QE infinity open with TALF for open-ended Treasuries, MBS and corporate bonds in amounts needed. Fed will continue to buy paper at current pace of $120B/month of Treasuries and MBS combined. Compare that to $40B/month in QE3.

ECB left rates unchanged as expected in December. The bank left deposit facility interest rates at -.50% and held steady rates on the main refinancing operations and on the marginal lending facility unchanged. Will maintain supportive measures "until it judges that the coronavirus crisis phase is over"

The Bank of Canada left the key lending rate at 0.25 percent on Wednesday as expected. BoC repeated it will hold interest rate at the effective lower bound until economic slack is absorbed, BoC to buy more longer-dated bonds, with pace of QE to be gradually reduced to $4B week from $5B week

The Federal Reserve kept rates unchanged at their October meeting, kept QE infinity open with TALF for open-ended Treasuries, MBS and corporate bonds in amounts needed. Fed will continue to buy paper at current pace of $120B/month of Treasuries and MBS combined. Compare that to $40B/month in QE3.

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