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MNI BRIEF: Highlights From BOC Senior Deputy Rogers Speech

"Higher interest rates are starting to work to slow the economy and tame inflation. We have a long way to go to get inflation back to target, but there are some early signs that monetary policy is working. Unfortunately, this adjustment is not without some pain. We recognize that," Rogers said Tuesday.

"We don’t want this transition to be more difficult than it has to be. But higher interest rates in the short term will bring inflation down in the long term. Canadians are looking for ways to protect themselves from rising prices, and we are working to protect them from entrenched inflation."

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"Higher interest rates are starting to work to slow the economy and tame inflation. We have a long way to go to get inflation back to target, but there are some early signs that monetary policy is working. Unfortunately, this adjustment is not without some pain. We recognize that," Rogers said Tuesday.

"We don’t want this transition to be more difficult than it has to be. But higher interest rates in the short term will bring inflation down in the long term. Canadians are looking for ways to protect themselves from rising prices, and we are working to protect them from entrenched inflation."

Keep reading...Show less