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The Bank of Canada’s (BoC) forecast is that Canadians will have widespread COVID-19 immunity by the end of the year, BoC Governor Tiff Macklem said on Tuesday, as reported by Reuters.

Additional takeaways

“Getting vaccines into Canadians is the top priority, some delays are inevitable.”

“News of new variants is worrisome.”

“Government measures to address pandemic were necessary.”

“It will be important over time to reestablish a sustainable fiscal policy.”

“Bay be a need for some new targeted programs to address the COVID-19 crisis.”

“We are starting to see some early signs of excess exuberance in the housing market.”

“We are still a long way from where we were in 2016 and 2017 as regards the housing market.”

Market reaction

These comments had little to no impact on the USD/CAD pair, which was last seen trading virtually unchanged on the day at 1.2606.

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