The bank kept interest rates unchanged, but said it would aim to keep yields on 10-year government bonds at around current levels of zero percent.
Citing “weak trade growth” and “financial distortions” caused by unconventional interest rates and monetary policies, the Organization for Economic Cooperation and Development on Wednesday was again forced to downgrade its global economic growth outlook.
Bank of Canada Governor Stephen Poloz is warning that a move to raise interest rates will likely be delayed again as the Canadian economy struggles to gain traction in a slow-growth world.
Next Trading Day’s Important Events
16:00 (GMT+3) ECB President Draghi’s Speech
20:00 (GMT+3) BOE’s Governor Carney speech
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