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MNI: BOC Says Hikes Starting To Work, Long Way From CPI Goal

(MNI) OTTAWA
Senior Deputy Carolyn Rogers sees some economic pain but no major downturn.

The Bank of Canada remains far from reaching its inflation goal and interest-rate hikes are just starting to show results cooling economic growth and price gains, Senior Deputy Governor Carolyn Rogers said Tuesday.

"We have a long way to go to get inflation back to target, but there are some early signs that monetary policy is working," Rogers told a student group. "Unfortunately, this adjustment is not without some pain."

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The Bank of Canada remains far from reaching its inflation goal and interest-rate hikes are just starting to show results cooling economic growth and price gains, Senior Deputy Governor Carolyn Rogers said Tuesday.

"We have a long way to go to get inflation back to target, but there are some early signs that monetary policy is working," Rogers told a student group. "Unfortunately, this adjustment is not without some pain."

Keep reading...Show less