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MNI INTERVIEW: BOC Can Hike 100 In Next 2 Meets- Ex-Gov Dodge

(MNI) Ottawa
OTTAWA (MNI)

Former Governor's view on inflation fight is more hawkish than many investors.

Former Bank of Canada Governor David Dodge told MNI the policy interest rate could climb another percentage point to 4.25% over the next two meetings before a pause to assess the risk of overshooting, a view that's more hawkish than most investors.

“If they get up to four, four and a quarter, something like that, in either the next or the next two (meetings), they won’t yet have enough evidence of what’s happening,” to go even further, Dodge said. “You don’t want to overshoot, because the impact of that overshoot will be felt quite a bit down the line. It’s a delicate balancing act.” (See: MNI INTERVIEW: Canada Overdoing Rate Hikes- Ex BOC Scholar)

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Former Bank of Canada Governor David Dodge told MNI the policy interest rate could climb another percentage point to 4.25% over the next two meetings before a pause to assess the risk of overshooting, a view that's more hawkish than most investors.

“If they get up to four, four and a quarter, something like that, in either the next or the next two (meetings), they won’t yet have enough evidence of what’s happening,” to go even further, Dodge said. “You don’t want to overshoot, because the impact of that overshoot will be felt quite a bit down the line. It’s a delicate balancing act.” (See: MNI INTERVIEW: Canada Overdoing Rate Hikes- Ex BOC Scholar)

Keep reading...Show less