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MNI BRIEF: BOC Says Mkts Have Been In Line With Rate Guidance

(MNI) OTTAWA

Bank of Canada Deputy Governor Toni Gravelle said Thursday the idea of divergence between investors predicting interest-rate cuts and officials signaling potential further tightening may be overstated.

“The biggest concern when there’s divergence between the market and ourselves is actually the next decision, the very next decision, and currently, markets have been relatively right on our previous two or three decisions," he said in response to a question from MNI following a speech in Windsor, Ontario. "So it seems like they are taking in the data in the same way we are."

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Bank of Canada Deputy Governor Toni Gravelle said Thursday the idea of divergence between investors predicting interest-rate cuts and officials signaling potential further tightening may be overstated.

“The biggest concern when there’s divergence between the market and ourselves is actually the next decision, the very next decision, and currently, markets have been relatively right on our previous two or three decisions," he said in response to a question from MNI following a speech in Windsor, Ontario. "So it seems like they are taking in the data in the same way we are."

Keep reading...Show less