On Thursday, Bank of Canada Deputy Governor Sharon Kozicki said that the Bank of Canada is set to end its quantitative easing program, and that any future applications for the quantitative easing program will be difficult to resort to again. Here are the rest of his statements:

If inflation continues to decline, it is reasonable to expect further interest rate cuts.
The Bank of Canada makes interest rate decisions at each meeting individually.
The barrier to using quantitative easing again is extremely high.
The Bank of Canada expects to end the quantitative tightening policy at some point in 2025.
The Bank of Canada is conducting a comprehensive review of all exceptional measures taken during the pandemic.
Earlier, Bank of Canada (BoC) Governor Tiff Macklem confirmed that there is a limit to how much Canadian monetary policy can diverge from its U.S. counterpart, especially regarding interest rate movements, noting that the Bank of Canada is not close to that limit yet.

Additionally, Tiff Macklem pointed out that citizens in Canada have experienced a surge in inflation for the first time, which has been strong and severe for them.

The Bank of Canada Governor also emphasized the central bank's commitment to understanding the citizens' reactions and ensuring that they comprehend the movements in monetary policy in terms of their reasons.