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Macklem Speech Ahead, Remarks 1250ET

CANADA
[correcting media Q&A time to circa 1415ET]
  • BoC’s Macklem speaks in a fireside chat on the “Challenges and risks in getting inflation back to target”.
  • Remarks will be released 1250ET before starting 1305ET, followed by media Q&A at ~1415ET.
  • It comes between the Apr 12 decision (when the Bank paused at 4.5% for the second meeting but considered raising rates and the need for rates to stay higher for longer) and the next decision on Jun 7.
  • Macklem has spoken a few times since Apr 12, including after CPI on Apr 18 (declining inflation encouraging but more work to do, reasonable that market sees higher US rates than Canada). Since then, monthly GDP last week came in close to BoC forecasts whilst the April employment report lands tomorrow.
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