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MNI BRIEF: BOC's 'Forceful' May Mean Hiking Pace Or Rate Level

(MNI) Ottawa
OTTAWA (MNI)

Bank of Canada Deputy Governor Paul Beaudry says potential for increase in inflation expectations is worrying.

Bank of Canada Deputy Governor Paul Beaudry said Thursday that the message around the potential for more forceful action could apply to the pace of rate hikes and how far borrowing costs ultimately rise.

"We were kind of trying to think both in terms of pace and level and the speed of getting there, and that was part of our deliberations,” he told reporters the day after the BOC hiked to 1.5% from 1%. In an earlier speech Beaudry said rates are more likely to rise above the Bank's neutral rate estimates of 2% to 3%.

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Bank of Canada Deputy Governor Paul Beaudry said Thursday that the message around the potential for more forceful action could apply to the pace of rate hikes and how far borrowing costs ultimately rise.

"We were kind of trying to think both in terms of pace and level and the speed of getting there, and that was part of our deliberations,” he told reporters the day after the BOC hiked to 1.5% from 1%. In an earlier speech Beaudry said rates are more likely to rise above the Bank's neutral rate estimates of 2% to 3%.

Keep reading...Show less