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Macklem Speech Stays on Message Regarding Debate on Another Rate Hike
- Bank of Canada Governor Tiff Macklem's speech Monday in Vancouver echoes last week's rate announcement
- "We will be considering whether there is a need to increase the policy rate further. This means that decisions to raise the rate or to pause and assess the impact of past rate increases will depend on incoming data and our judgments about the outlook for inflation"
- "We are trying to balance the risks of over- and under-tightening monetary policy"
- Bank sees upside inflation risks as more dangerous because if rapid inflation becomes entrenched even higher rates will be needed
- The economy is "overheated" and "interest rate increases have begun to work, but they will take time to feed through the economy"
- Macklem will take audience questions and holds a press conference after his speech
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.