MNI BRIEF: BOC Says Balance Sheet Plans Are Moving As Expected

Bank of Canada Senior Deputy Governor Carolyn Rogers told reporters Wednesday plans to restore normalcy to the balance sheet following pandemic-era QE are going as planned.

Settlement balances are rolling off the balance sheet towards an expected target range, she said. Officials have said in the past that must happen before other operations such a return buying treasury bills might begin. (See: MNI BRIEF: BOC Bond Holdings Below CAD200B, Half Covid Peak)