MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Very Safe To Say Won't Lower Rates At Pace That Hiked Them - Macklem

CANADA
Paraphrasing questions from the BoC press conference
  • Q: You have policy decisions every six to seven weeks and a time will come when it makes sense to cut, how might you think about the frequency of rate cuts?
  • A: You’re getting a little ahead of yourself here. When we get to that point we’ll have more to say. It’s very safe to say we’re not going to be lowering rates at the pace that we raised them.
  • Q: Importance of forward guidance. What is your sense of how much forward guidance you’ll provide before you actually move rates or would you get straight to cutting?
  • A: One of the advantages of putting out our own forecasts or near-term updates (like today) is that we’re very clear about how things are evolving and what we’re watching. As the data comes out, everyone will have a sense of how it compares. Even if we’re not out there giving new assessments, the market and Canadians will see how things are evolving. We’re not giving forward guidance on our forward guidance. It’s fair to say that in giving indications of where we think things are headed on inflation rates, we want to give Canadians as much information as we have but don’t want to give a sense of false precision. We’ve seen progress but we need to see more progress.
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.