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Diversity of Views On BoC Council But Clear Consensus To Hold Today

CANADA

When asked about whether there was a discussion about cutting rates today, Governor Macklem said we did discuss it and there was a clear consensus to hold rates at 5%. We’re a council of six different people so there is a diversity of views. You want that, it’s healthy.


A second reporter followed up, asking whether the diversity of view on the Governing Council is around the evidence needed for a cut, particular data/the breadth of data, or risks to forecast?

  • Macklem: It’s all of those things. All the members of the council are looking at those things and have different expertise and experiences meaning they weight things differently.
  • Dep Gov Rogers: There’s six of us so it would be unusual if we had the same view.
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