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CANADA: Macklem - Council Discussed Range Of Cut Pace Scenarios

CANADA
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  • Q: Did anyone argue for a 50bp rate cut or whether it was debated?

  • Macklem: There was a strong consensus for a 25bp reduction in our policy rate. The council also agreed that, as I mentioned, that if inflation continued to ease broadly in line with our forecast that further cuts would be appropriate. We also agreed that we’re not on a predetermined path. We discussed scenarios where it would be appropriate to slow the pace of declines or cut by 50bps.

     

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  • Q: Did anyone argue for a 50bp rate cut or whether it was debated?

  • Macklem: There was a strong consensus for a 25bp reduction in our policy rate. The council also agreed that, as I mentioned, that if inflation continued to ease broadly in line with our forecast that further cuts would be appropriate. We also agreed that we’re not on a predetermined path. We discussed scenarios where it would be appropriate to slow the pace of declines or cut by 50bps.

     

Keep reading...Show less