MNI BRIEF: Macklem Reiterates Another Outsized Hike Possible

Bank of Canada Governor Tiff Macklem reiterated Thursday there could be another interest-rate hike larger than a quarter point if that's what's needed to curb inflation.

Rates “have further to go” he told reporters after a speech. “That could be another bigger than normal step or it could be reverting to more normal twenty-five.” There has been some early evidence that trend inflation is moderating but “we’re still in excess demand, that’s still putting upward pressure on inflation,” he said. (See: MNI INTERVIEW: BOC Nearly Done Hiking On Stall Risk-Ex Adviser) Most Canadian bond trading shut down ahead of Remembrance Day before Macklem spoke.