Ivey PMI s.a

50.7

The Ivey Purchasing Managers Index (PMI) is an economic index which measures the month to month variation in economic activity as indicated by a panel of purchasing managers from across Canada, and is prepared by the Ivey Business School at Western University. The PMI includes both the public and private sectors and is based on month end data Ivey PMI panel members indicate whether their organizations activity is higher than, the same as, or lower than the previous month across the following five categories: purchases, employment, inventories, supplier deliveries and prices.A headline value above 50 indicates an increase in purchases from the previous month and a value below 50 indicates a decrease.

Treasury Cash Balance

-37800000000

In Turkey, treasury cash realizations indicate the cash inflows to and outflows from the Treasury’s bank accounts within the scope of the transactions of general budget institutions. Cash Balance is calculated as the sum of taxes, non-tax revenues and privatization and funds income minus the expenditures (both interest and non-interest expenditures).

Building Permits MoM

-1.9%

In Canada, building permits refer to the value of permits issued for new buildings, alterations, additions, renovations. It includes expenditures on materials, labour, profit and overheads. .

Labor Productivity QoQ

-1.5%

In Canada, Productivity is the real value of output produced by a unit of labor during a certain time.

Non Farm Payrolls

467000

Nonfarm payrolls is an employment report released monthly, usually on the first Friday of every month, and heavily affects the US dollar, the bond market and the stock market. Current Employment Statistics (CES) program from the U.S. Department of Labor Bureau of Labor Statistics, surveys about 141,000 businesses and government agencies, representing approximately 486,000 individual work sites, in order to provide detailed industry data on employment, hours, and earnings of workers on nonfarm payrolls.

Unemployment Rate

4%

In the United States, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Average Hourly Earnings MoM

0.7%

In the United States, Average Hourly Earnings is the average amount employees make per hour in a given month. The Federal Reserve uses average hourly earnings in deciding whether to raise or lower interest rates.

Participation Rate

62.2%

The civilian labor force participation rate is the number of employed and unemployed but looking for a job as a percentage of the population aged 16 years and over.

Average Hourly Earnings YoY

5.7%

In the United States, Average Hourly Earnings is the average amount employees make per hour in a given month. The Federal Reserve uses average hourly earnings in deciding whether to raise or lower interest rates.

Nonfarm Payrolls Private

444000

Private Nonfarm Payrolls measures the change in the number of total payrolls in any business, excluding general government employees, private household employees, employees of nonprofit organizations that provide assistance to individuals and farm employees.

Average Weekly Hours

34.5

Average weekly hours are the total weekly hours divided by the employees paid for those hours. Unpaid absenteeism, labor turnover, part-time work, and stoppages cause average weekly hours to be lower than scheduled hours of work for an establishment.

Government Payrolls

23000

Government Payrolls reports the absolute change in the number of employees working in the Government sector in the United States. It includes Federal, State and Local governments.

Manufacturing Payrolls

13000

Manufacturing Payrolls reports the absolute change in the number of employees working in the Manufacturing sector in the United States.

New Car Registrations MoM

-38.9%

In Brazil, New Vehicle Registrations refers to total registration of new vehicles, including passenger cars, trucks and buses.

Car Production MoM

-31.1%

In Brazil, car production measures the total number of manufactured cars including passenger cars, trucks and buses in the reference month.

GDP Growth Rate YoY

4%

Brazil is the tenth largest economy in the world and the biggest in Latin America. The services sector is the most important and accounts for 63 percent to total GDP. The biggest segments within services are: government, defense, education and health (15 percent of total GDP); other services (15 percent); wholesale and retail trade (11 percent); real estate (8 percent); and financial services (7 percent). Also, industry contributes to 18 percent of GDP, with manufacturing (11 percent) and construction (4 percent) accounting for the largest share. The agriculture and livestock sector accounts 5 percent of GDP. On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by government expenditure (20 percent) and gross fixed capital formation (16 percent). Exports of goods and services account for 13 percent of GDP while imports account for 12 percent, adding 1 percent of total GDP.

GDP Growth Rate QoQ

-0.1%

Brazil is the tenth largest economy in the world and the biggest in Latin America. The services sector is the most important and accounts for 63 percent to total GDP. The biggest segments within services are: government, defense, education and health (15 percent of total GDP); other services (15 percent); wholesale and retail trade (11 percent); real estate (8 percent); and financial services (7 percent). Also, industry contributes to 18 percent of GDP, with manufacturing (11 percent) and construction (4 percent) accounting for the largest share. The agriculture and livestock sector accounts for 5 percent of GDP. On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by government expenditure (20 percent) and gross fixed capital formation (16 percent). Exports of goods and services account for 13 percent of GDP while imports account for 12 percent, adding 1 percent of total GDP.

Industrial Production MoM

2.9%

In Brazil, industrial production measures the output of businesses integrated in industrial sector of the economy, such as manufacturing, mining, and utilities.

Industrial Production YoY

-5%

In Brazil, industrial production measures the output of businesses integrated in industrial sector of the economy, such as manufacturing, mining, and utilities.

Auto Production YoY

-9.1%

In Mexico, Car Production refers to total production of vehicles.

Auto Exports YoY

-3.1%

In Mexico, auto exports refers to total exports of vehicles.

Gross Fixed Investment YoY

5.9%

The Gross Fixed Investment in Mexico measures the total value of all acquisitions of fixed assets, both tangible and intangible, obtained as a result of a production process. Those are only ones which can be repeatedly used in other production processes in a period longer than one year. The value represents a year over year change of the gross fixed investment, obtained by aggregating the constant values of machinery and equipment of both national and foreign origin and of construction. They are: buildings, machinery, equipment, transport equipment, software, literary originals and other tangible and intangible fixed assets and additions and upgrades meant to prolong the usage or increase capacity. Considering the machinery and equipment of national origin, only new products are counted. Both new and used imported machinery and equipment increase the value of assets available in the country. The construction gross fixed investment index refers to the investment cost valued at the buyers cost.

Gross Fixed Investment MoM

-0.1%

The Gross Fixed Investment in Mexico measures the total value of all acquisitions of fixed assets, both tangible and intangible, obtained as a result of a production process. Those are only ones which can be repeatedly used in other production processes in a period longer than one year. The value represents a year over year change of the gross fixed investment, obtained by aggregating the constant values of machinery and equipment of both national and foreign origin and of construction. They are: buildings, machinery, equipment, transport equipment, software, literary originals and other tangible and intangible fixed assets and additions and upgrades meant to prolong the usage or increase capacity. Considering the machinery and equipment of national origin, only new products are counted. Both new and used imported machinery and equipment increase the value of assets available in the country. The construction gross fixed investment index refers to the investment cost valued at the buyers cost.

Consumer Confidence

89.3

In Spain, the Consumer Confidence survey is made by phone and covers 1,000 individuals aged over 16 who are representative of Spanish society as a whole. The questionnaire focuses on current economic and financial situation, savings intention as well as on expected developments regarding general and personal economic situation and major purchases of durable goods. The index shows the difference between the percentage share of persons that are optimistic and the percentage of persons that are pessimistic. The index measures consumer confidence on a scale of 0 to 200, where 0 indicates extreme lack of confidence, 100 neutrality and 200 extreme confidence.

Foreign Exchange Reserves

In India, Foreign Exchange Reserves are the foreign assets held or controlled by the country central bank. The reserves are made of gold or a specific currency. They can also be special drawing rights and marketable securities denominated in foreign currencies like treasury bills, government bonds, corporate bonds and equities and foreign currency loans.

Current Account

23000000000

Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

GDP Growth Rate YoY

11.4%

From 1995 to 2007, Irish economy was growing rapidly averaging 6 percent a year, benefiting from a rise in consumer spending, construction, and business investment. However in 2008, as a result of a crash in real estate market, economic activity dropped sharply and the country entered into a recession for the first time in more than a decade. After series of economic reforms aiming at reducing budget deficit and government debt, the GDP started to expand from Q3 of 2010 and after three quarters of contraction in 2012, it has gained the status of fastest growing economy in the Euro Area.

GDP Growth Rate QoQ

0.9%

Irish economy is based on foreign trade, industry and investment. The country is major high-tech manufacturer and is one of the world’s biggest exporters of pharmaceuticals and software. On the expenditure side, household consumption is the main component of GDP and accounts for 44 percent, followed by gross fixed capital formation (19 percent) and government expenditure (17 percent). Net exports adds 19 percent to total GDP as exports account for 114 percent while imports for 95 percent.

GNP QoQ

5%

In Ireland, Gross National Product (GNP) is the sum of GDP and Net factor income from the rest of the world (NFI), which is the difference between investment income (interest, profits etc.) and labour income earned abroad by Irish resident persons and companies (inflows) and similar incomes earned in Ireland by non-residents (outflows). Because NFI is the difference between two large gross flows, its magnitude can fluctuate greatly from one quarter to another. This can lead to significant differences between the GDP and GNP growth rate for the same quarter.

GNP YoY

20.1%

In Ireland, Gross National Product (GNP) is the sum of GDP and Net factor income from the rest of the world (NFI), which is the difference between investment income (interest, profits etc.) and labour income earned abroad by Irish resident persons and companies (inflows) and similar incomes earned in Ireland by non-residents (outflows). Because NFI is the difference between two large gross flows, its magnitude can fluctuate greatly from one quarter to another. This can lead to significant differences between the GDP and GNP growth rate for the same quarter.

Vehicle Sales YoY

-3.7%

In Russia, Total Vehicle Sales refer to total registrations of car and light commercial vehicles.

Retail Sales YoY

-2.4%

In Austria, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

Retail Sales MoM

-2.4%

In Austria, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Austria, Retail sales are seasonal, volatile and relatively important to the overall economy.

Retail Sales MoM

-1.5%

In Belgium, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Belgium, Retail sales are seasonal, volatile and relatively important to the overall economy.

Retail Sales YoY

1.7%

In Belgium, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

Retail Sales YoY

2%

In the Euro Area, retail sales show the evolution of the total amount of goods sold. Among them, food drinks and tobacco account for the highest share (39.3 percent); followed by electrical goods and furniture (12.0 percent share); computer equipment books and other (11.4 percent share); pharmaceutical and medical goods (9.9 percent share); textiles, clothing, footwear (9.2 percent share); auto fuel (9.1 percent share); other non-food products (6.0 percent share) and mail orders and internet (2.9 percent share). Among countries, Germany has the highest weight (25.9 percent), followed by France (21.7 percent), Italy (16.1 percent) and Spain (11.4 percent). Others are Netherlands (5.2 percent); Belgium (4.3 percent); Greece (3.0 percent); Austria (2.8 percent); Portugal (2.4 percent); Finland (1.8 percent); Ireland (1.7 percent); Luxembourg and Slovakia (0.8 percent each); Slovenia (0.6 percent); Lithuania (0.4 percent); Latvia and Cyprus (0.3 percent); Estonia (0.2 percent) and Malta (0.1 percent).

Retail Sales MoM

-3%

In the Euro Area, retail sales show the evolution of the total amount of goods sold. Among them, food drinks and tobacco account for the highest share (39.3 percent); followed by electrical goods and furniture (12.0 percent share); computer equipment books and other (11.4 percent share); pharmaceutical and medical goods (9.9 percent share); textiles, clothing, footwear (9.2 percent share); auto fuel (9.1 percent share); other non-food products (6.0 percent share) and mail orders and internet (2.9 percent share). Among countries, Germany has the highest weight (25.9 percent), followed by France (21.7 percent), Italy (16.1 percent) and Spain (11.4 percent). Others are Netherlands (5.2 percent); Belgium (4.3 percent); Greece (3.0 percent); Austria (2.8 percent); Portugal (2.4 percent); Finland (1.8 percent); Ireland (1.7 percent); Luxembourg and Slovakia (0.8 percent each); Slovenia (0.6 percent); Lithuania (0.4 percent); Latvia and Cyprus (0.3 percent); Estonia (0.2 percent) and Malta (0.1 percent).

Retail Sales YoY

1.1%

In France, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

Retail Sales MoM

-0.2%

In France, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In France, Retail sales are seasonal, volatile and relatively important to the overall economy.

GDP Growth Rate QoQ

2.7%

Greece has a service based economy and is one of the top tourist destinations in the world. Following the entry to the European Union in 1980 and the Euro Area in 2000, the Greek economy had been recording high rates of growth. Yet, as this expansion had been fueled mainly by the access to cheap credit and growth of public sector, in 2008 the budget deficit and sovereign debt reached unsustainable levels. As a result, Greece faced the worst crisis since 1974 and tough reforms enforced by the IMF and the European Commission as part of the bailout programme are taking place.

GDP Growth Rate YoY

13.4%

In Greece, household consumption is the main component of GDP and accounts for 72 percent of its total use, followed by government expenditure (20 percent) and gross fixed capital formation (12 percent). Exports of goods and services account for 33 percent of GDP while imports account for 35 percent, subtracting 2 percent of total GDP.

Retail Sales MoM

1%

In Hungary, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Hungary, Retail sales are seasonal, volatile and relatively important to the overall economy.

Retail Sales MoM

-0.9%

In Luxembourg, the month-over-month change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the previous month.

Inflation Rate YoY

3.6%

In Luxembourg, the most important category in the consumer price index is Transport (16.2 percent of total weight). Miscellaneous Goods and Services accounts for 15.8 percent; Housing and Utilities for 15.2 percent; Food and Non-Alcoholic Beverages for 12.2 percent; Furnishings, household equipment and routine household maintenance for 8.4 percent; Recreation and Culture for 7.9 percent and Restaurants and Hotels for 7.1 percent. Clothing and Footwear; Alcoholic beverages and tobacco; Communication; Health and Education account for the remaining 24.3 percent of total weight.

Inflation Rate Mom

0.1%

Inflation Rate MoM measures month over month change in the price of goods and services.

Retail Sales MoM

-3.1%

In Poland, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Poland, Retail sales are seasonal, volatile and relatively important to the overall economy.

Construction PMI

56.3

In the United Kingdom, the Markit / Chartered Institute of Purchasing and Supply Purchasing Managers Index measures the performance of the construction sector and is derived from a survey of 170 construction companies.

New Car Sales YoY

27.5%

In the United Kingdom, Car Registrations refers to total registration of new passenger cars.

GDP Growth Rate QoQ Final

2.6%

Italy is the ninth largest economy in the world and the third largest in the Euro Zone. The country has a diversified industrial base driven in large part by manufacturing of high-quality consumer goods. Composition of the GDP on the expenditure side: household consumption (61 percent), government expenditure (19 percent) and gross fixed capital formation (17 percent). Exports of goods and services account for 30 percent of GDP while imports for 27 percent, adding 3 percent to total GDP.

GDP Growth Rate YoY Final

3.9%

Italy is the second largest manufacturing economy in Europe and the third largest economy in the Euro Area. Composition of the GDP on the expenditure side: household consumption (61 percent), government expenditure (19 percent) and gross fixed capital formation (17 percent). Exports of goods and services account for 30 percent of GDP while imports for 27 percent, adding 3 percent to total GDP.

Construction PMI

54.4

The Germany Construction Purchasing Managers’ Index® is based on original survey data collected from a representative panel of over 200 companies based in the German construction sector. Data are collected at mid-month, asking respondents to compare a variety of construction conditions with the situation one month ago. A reading of below 50.0 indicates that the construction activity is generally declining, above 50.0 that it is generally expanding and exactly 50.0 indicates no change on the level recorded the previous month.

Construction PMI

Data are collected at mid-month, asking respondents to compare a variety of business conditions with the situation one month ago. A reading of below 50.0 indicates that the economy is generally declining, above 50.0 that it is generally expanding and exactly 50.0 indicates no change on the level recorded the previous month.

Construction PMI

52

Data are collected at mid-month, asking respondents to compare a variety of business conditions with the situation one month ago. A reading of below 50.0 indicates that the economy is generally declining, above 50.0 that it is generally expanding and exactly 50.0 indicates no change on the level recorded the previous month.

Retail Sales YoY

3.4%

In Hong Kong, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

Foreign Exchange Reserves

In Hong Kong, Foreign Exchange Reserves are the foreign assets held or controlled by the country central bank. The reserves are made of gold or a specific currency. They can also be special drawing rights and marketable securities denominated in foreign currencies like treasury bills, government bonds, corporate bonds and equities and foreign currency loans.

Construction PMI

68.2

Survey responses reflect the change, if any, in the current month compared to the previous month based on data collected mid-month. For each of the indicators the ‘Report' shows the percentage reporting each response, the net difference between the number of higher/better responses and lower/worse responses, and the ‘diffusion' index. This index is the sum of the positive responses plus a half of those responding ‘the same'. Diffusion indexes have the properties of leading indicators and are convenient summary measures showing the prevailing direction of change. An index reading above 50 indicates an overall increase in that variable, below 50 an overall decrease.

Current Account

63000000000

Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

GDP Growth Rate YoY Final

5.6%

In Austria, household consumption is the main component of GDP and accounts for 54 percent, followed by gross fixed capital formation (22 percent) and government expenditure (20 percent). Net exports of goods and services adds 3 percent to the GDP as exports accounts for 53 percent and imports for 50 percent.

GDP Growth Rate QoQ Final

3.8%

Austria's economy features a large service sector (63 percent of total GDP), a solid industrial sector (25 percent), and a small, but highly developed agricultural sector (1 percent). On the expenditure side, household consumption is the main component of GDP and accounts for 54 percent, followed by gross fixed capital formation (22 percent) and government expenditure (20 percent). Net exports of goods and services adds 3 percent to the GDP as exports accounts for 53 percent and imports for 50 percent. .

SECO Economic Forecasts

Foreign Exchange Reserves

947150000000

In Switzerland, Foreign Exchange Reserves are the foreign assets held or controlled by the country central bank. The reserves are made of gold or a specific currency. They can also be special drawing rights and marketable securities denominated in foreign currencies like treasury bills, government bonds, corporate bonds and equities and foreign currency loans.

Industrial Production YoY

5.8%

In Hungary, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities.

IPC-Fipe Inflation MoM

0.74%

In Brazil, the IPC-Fipe Inflation MoM measures month-on-month inflation within the boundaries of the city of Sao Paulo and does not include prices in the wider metropolitan area. Economists see the FIPE index as an early gauge of Brazil's benchmark IPCA inflation index, which the central bank targets when setting interest rates. The Consumer Prices Index for the City of São Paulo is the most traditional indicator of the evolution of the cost of living of families in São Paulo city and one of the oldest indicators in Brazil. It was first calculated on January 1939 by the Statistics and Documentation Division of the São Paulo City Government. In 1968, the duty of calculating the index was transferred to the Institute of Economic Research linked to the Economics Department of USP and later on to Fipe, after its creation in 1973.

Balance of Trade

7000000000

Germany runs regular trade surpluses since 1952, primarily due to strong exports of vehicles and other machinery. In 2017, the largest trade surpluses were recorded with the US, the UK, France, Austria, Spain, Sweden and the UAE; while the biggest trade deficits were recorded with China, Vietnam, Norway, Russia, the Netherlands, Ireland and Czech Republic.

Current Account

Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

Balance of Trade s.a

Exports MoM s.a

Imports MoM s.a

Retail Sales MoM

0.9%

In Romania, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Romania, Retail sales are seasonal, volatile and relatively important to the overall economy.

Retail Sales YoY

7%

In Romania, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

Markit Services PMI

51.5

The IHS Markit India Services PMI (Purchasing Managers' Index) is based on data compiled from monthly replies to questionnaires sent to purchasing executives in around 350 private service sector companies. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.

Markit Composite PMI

53

In India, the Nikkei India Composite Output Index is a weighted average of the Manufacturing Output Index and the Services Business Activity Index and tracks business trends across private sector activity, based on data collected from a representative panel of around 800 companies. The index tracks variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining. .

Retail Sales YoY

6.7%

In Singapore, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

Retail Sales MoM

2.3%

In Singapore, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Singapore, Retail sales are seasonal, volatile and relatively important to the overall economy.

Construction PMI

56.1

The Ulster Bank Construction Purchasing Managers’ Index® is a seasonally adjusted index designed to track changes in total construction activity in Ireland. Data are collected at mid-month, asking respondents to compare a variety of business conditions with the situation one month ago. A reading of below 50.0 indicates that the economy is generally declining, above 50.0 that it is generally expanding and exactly 50.0 indicates no change on the level recorded the previous month.

Retail Sales MoM Final

-4.4%

In Australia, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Australia, Retail sales are seasonal, volatile and relatively important to the overall economy.

CPPCC National Committee

Total Vehicle Sales

In the United States, Total Vehicle Sales measures the annualized number of new vehicles sold domestically in the reported month.

Unemployment Rate

In Japan, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Jobs/applications ratio

The series refers to the ratio of active job openings to applicants is a rate of the number of job offers (sum of the carried forward ones from the previous month and new ones) to the number of job seekers registered at public employment security offices ("Hello Work") all over the country. It indicates the number of job offers per one job seeker. The ratio is obtained by dividing monthly active job openings by monthly active applications.

Fed Williams Speech

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

Inflation Rate YoY

In South Korea, the most important categories in the consumer price index are Housing, water, electricity, gas and other fuels (17 percent of total weight) and Food and non-alcoholic beverages (13.6 percent of total weight). Others include Restaurants and hotels (12 percent); Education (11.4 percent); Transportation (10.9 percent); Health (7.3 percent); and Clothing and footwear (6.2 percent). The components with the least weight are Communication at 5.8 percent; Miscellaneous goods and services at 5.4 percent; Recreation and culture at 5.3 percent; Furnishings, household equipment and routine maintenance at 3.8 percent; and Alcoholic beverages and tobacco at 1.24 percent.

Inflation Rate MoM

Inflation Rate MoM measures month over month change in the price of goods and services.

Foreign Exchange Reserves

461530000000

In South Korea, Foreign Exchange Reserves are the foreign assets held or controlled by the country central bank. The reserves are made of gold or a specific currency. They can also be special drawing rights and marketable securities denominated in foreign currencies like treasury bills, government bonds, corporate bonds and equities and foreign currency loans.

BoE Tenreyro Speech

In the United Kingdom, benchmark interest rate is set by the Monetary Policy Committee (MPC). The Bank of England official interest rate is the repo rate. This repo rate applies to open market operations of the Bank of England with a group of counterparties (banks, building societies, securities firms).

BoC Gov Macklem Speech

In Canada, benchmark interest rate is set by the Bank of Canada's (BoC) Governing Council. The official interest rate is the Overnight Rate. Since 1996 the Bank Rate is set at the upper limit of an operating band for the money market overnight rate. Previously, from March 1980 until February 1996 the Bank Rate was set at 25 basis points above the weekly average tender rate for 3-month Treasury bills.

8-Week Bill Auction

4-Week Bill Auction

NY Fed Treasury Purchases 7 to 10 yrs