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Japan June Inflation Accelerated; +2.2% Y/Y

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Attempting To Break Above 1.1100

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Trudeau, Freeland Say More Spending May Hurt BOC Inflation Fight

CANADA
(MNI) Ottawa
  • Clearer fiscal policy message in separate interviews with CBC over the weekend compared with past statements about potentially adding more fiscal stimulus
  • "Flushing more money into the economy" could "make the problem worse" Trudeau said in reference to inflation
  • Trudeau also agreed there is concern about a global recession, particularly "with what the US is going through"
  • Freeland: "I don't want to make the Bank of Canada's job harder than it already is"
  • Practical effect may be small since there's no full budget due until early next year, but comments signal fewer spending pledges in the meantime after a series of big-ticket measures announced in the pandemic
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  • Clearer fiscal policy message in separate interviews with CBC over the weekend compared with past statements about potentially adding more fiscal stimulus
  • "Flushing more money into the economy" could "make the problem worse" Trudeau said in reference to inflation
  • Trudeau also agreed there is concern about a global recession, particularly "with what the US is going through"
  • Freeland: "I don't want to make the Bank of Canada's job harder than it already is"
  • Practical effect may be small since there's no full budget due until early next year, but comments signal fewer spending pledges in the meantime after a series of big-ticket measures announced in the pandemic