Free Trial
LIBOR

JAPAN FIX - 22/06/22

LIBOR

US FIX - 22/06/22

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI BRIEF: BOC Says Rate Must Keep Rising As Economy Overheats

(MNI) Ottawa
Senior Deputy Carolyn Rogers says most inflation pressure is global in nature.

The Bank of Canada must keep raising the low policy interest rate to hold down demand in a hot economy, Senior Deputy Governor Carolyn Rogers said Tuesday, without giving a view on whether another 50bp move or something bigger is needed.

"With the Canadian economy starting to overheat, we can't let demand get too far ahead of supply or we risk adding further to inflation," Rogers said in her debut speech as the No. 2 official, and the Bank's first such in-person remarks since the pandemic. The Bank last month raised rates 50bp to 1% and said neutral was 2.5%; the next meeting is June 1.

Keep reading...Show less
169 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

The Bank of Canada must keep raising the low policy interest rate to hold down demand in a hot economy, Senior Deputy Governor Carolyn Rogers said Tuesday, without giving a view on whether another 50bp move or something bigger is needed.

"With the Canadian economy starting to overheat, we can't let demand get too far ahead of supply or we risk adding further to inflation," Rogers said in her debut speech as the No. 2 official, and the Bank's first such in-person remarks since the pandemic. The Bank last month raised rates 50bp to 1% and said neutral was 2.5%; the next meeting is June 1.

Keep reading...Show less