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Macklem Speech Stays on Message Regarding Debate on Another Rate Hike

BOC
(MNI) OTTAWA
  • 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
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
Homepagemarkets-real-timeCanadaBulletMarketsFixed Income BulletsForeign Exchange BulletsRegionNorth America
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
Homepagemarkets-real-timeCanadaBulletMarketsFixed Income BulletsForeign Exchange BulletsRegionNorth America

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