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MNI INTERVIEW: BOC Will Cut At Next Three Meetings- Sen Gignac

(MNI) OTTAWA
MNI interviews Senate banking committee member Clement Gignac.

MNI (OTTAWA) - The Bank of Canada will deliver interest-rate cuts at the remaining three decisions this year following Wednesday's reduction as weakness in the job market mounts, according to Clement Gignac, a member of the Senate banking committee and a former Quebec minister who has also advised the federal finance department. 

Governor Tiff Macklem appeared to suggest a string of reductions is needed in his press conference when he went beyond the official statement to say growth needs to pick up to keep the economy in balance, Gignac told MNI in a phone interview. 

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MNI (OTTAWA) - The Bank of Canada will deliver interest-rate cuts at the remaining three decisions this year following Wednesday's reduction as weakness in the job market mounts, according to Clement Gignac, a member of the Senate banking committee and a former Quebec minister who has also advised the federal finance department. 

Governor Tiff Macklem appeared to suggest a string of reductions is needed in his press conference when he went beyond the official statement to say growth needs to pick up to keep the economy in balance, Gignac told MNI in a phone interview. 

Keep reading...Show less