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On February 14, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, attended the Munich Security Conference and delivered a speech and answered questions at the "China Session." When asked about Chinas role in resolving regional conflicts, particularly the Ukraine issue, Wang Yi stated that Chinas position is clear: all regional hotspots should seek political solutions through dialogue and consultation, and the same applies to the Ukraine issue. However, China is not a party to the conflict, and the decision-making power is not in Chinas hands. What we can do is to promote peace talks. We have dispatched special envoys to mediate and, through various channels, emphasized to all parties that a ceasefire should be implemented as soon as possible, and that everyone should return to the negotiating table.On February 14, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, attended the Munich Security Conference, delivered a speech at the "China Session," and answered questions from the audience. Wang Yi emphasized that the erroneous remarks by Japanese leaders on the Taiwan issue exposed Japans undying ambition to invade and colonize Taiwan and the lingering specter of reviving militarism. Japan launched its invasion of China and attacked Pearl Harbor under the pretext of a so-called "crisis and existential crisis." The lessons of history are still fresh and must be heeded. If Japan does not repent, it will inevitably repeat the same mistakes. Good people should be vigilant. First and foremost, the Japanese people must be reminded not to be blinded and coerced by far-right forces and extremist ideologies again. All peace-loving countries should also warn Japan: if it chooses to go back to its old ways, it will only lead to its own destruction.Joint statement from the UK, Switzerland, France, Germany, and the Netherlands: We and our partners will use all policy tools at our disposal to continue to hold Russia accountable.Joint statement from the UK, Switzerland, France, Germany, and the Netherlands: We further express our concern that Russia has not destroyed all of its chemical weapons.The United Kingdom, Sweden, France, Germany, and the Netherlands issued a joint statement regarding the death of Alexei Navalny.

Bank of Canada, Canadian Dollar, USDCAD, Inflation

Larissa Barlow

Apr 14, 2022 10:26

The Bank of Canada (BoC) chose to increase its benchmark policy rate by 50 basis points (bps), the highest increase in more than two decades. Additionally, the BoC announced that quantitative tightening (QT) would begin on April 25th, as the central bank seeks to combat three-decade high inflation. According to the policy statement, "interest rates will need to rise further" because inflation has exceeded previous predictions for 2022. Notably, inflation predictions were revised significantly upward, with the Bank of Canada now expecting inflation to hover around 6% for the most of the first half of 2022.

 

Canada, like other central banks, has struggled to curb price pressures. In January, the Bank of Canada forecasted first-quarter inflation of 5.1 percent. However, it is on track to exceed 6%, much beyond the BoC's aim of 2%. Due to Russia's invasion of Ukraine, economists worldwide have been obliged to revise their inflation and growth forecasts.

 

The BoC also confirmed its balance sheet reduction plans, with the central bank opting not to replace maturing bonds. QT is scheduled to begin on April 25, with around a quarter of the government debt acquired during the pandemic (approximately C$350 billion) maturing during the next 12 months. 

USD/CAD 1 Hour Chart

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Despite the Bank of Canada's rise, the USDCAD continues to trend higher. The cross briefly declined in nine consecutive sessions, with the Canadian Dollar's rise supported by increasing oil prices. This decrease peaked on April 5th near 1.2402, and has since recovered significantly. A fall in risk appetite has resulted in a significant bid for the USD in recent days, with the US Dollar Index gaining for the last ten days. With the USDCAD firmly on the rise, any dips may be bought as we approach the May FOMC meeting, at which the Fed is likely to hike rates by 50 basis points and announce plans for balance sheet reduction.

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