Free Trial

MNI: BOC Says Policy No Longer Needs To Be As Restrictive

Bank of Canada Governor Tiff Macklem on Wednesday echoed his reasons behind the decision a week ago to lower interest rates and left out any mention of a potential divergence from the Federal Reserve.

"Inflation has come down, and underlying inflation continues to ease gradually," Macklem said in the prepared text for a talk at the Conference of Montreal. "With further and more sustained evidence that underlying inflation is easing, monetary policy no longer needs to be as restrictive as it has been." (See: MNI INTERVIEW: BOC Free To Cut At Next Four Meets- Brett House)

MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

To read the full story

Close

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.