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Senior Deputy Governor Rogers Speech Highlights

BOC
  • The Bank sees evidence that interest rates could stay higher for longer from global forces. 
  • "It’s important for the stability and resilience of the financial system that people plan for and adjust to a potentially higher interest rate environment."
  • BoC says Canadians have made adjustments as demand for credit by consumers and businesses slows while banks increase their capital and liquidity buffers. 
  • "We’ll need to keep a close eye on both credit stress indicators and survey data to gauge how businesses and households are adjusting."
  • The Bank reiterated that they are focused on bringing inflation back to the 2% target.

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