Free Trial

MNI: Macklem Says BOC Getting Closer To Rate Cut Conditions

(MNI) OTTAWA
OTTAWA (MNI)

Bank of Canada Governor Tiff Macklem told lawmakers Wednesday conditions for lowering interest rates are emerging but he's still looking for solid evidence that trend inflation is settling back to his 2% target.

"What do we need to see to be convinced it’s time to cut? The short answer is we are getting closer," he said in opening remarks to the Senate's banking committee. "We are seeing what we need to see, but we need to see it for longer to be confident that progress toward price stability will be sustained."

Keep reading...Show less
156 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Bank of Canada Governor Tiff Macklem told lawmakers Wednesday conditions for lowering interest rates are emerging but he's still looking for solid evidence that trend inflation is settling back to his 2% target.

"What do we need to see to be convinced it’s time to cut? The short answer is we are getting closer," he said in opening remarks to the Senate's banking committee. "We are seeing what we need to see, but we need to see it for longer to be confident that progress toward price stability will be sustained."

Keep reading...Show less