“If evidence begins to mount that inflation is not declining in line with forecasts, we are prepared to raise the policy rate further,” Bank of Canada Governor Tiff Macklem said, speaking before the Standing Committee. of Finance.
Featured Statements
“We have seen some evidence that our interest rate hikes are starting to dampen demand and rebalance our overheated economy.”
“With inflation above 6%, we are still far from the 2% target, but inflation is turning the corner.”
“The Canadian economy remains overheated and with clear excess demand, which continues to push many domestic prices up.”
“CPI inflation is expected to fall by the middle of this year to around 3% and reach the 2% target in 2024.”
“Global energy prices could soar again, pushing up inflation around the world.”
Market reaction
USD/CAD did not show an immediate reaction to these comments and was last seen trading at 1.3460, where it was up 0.5% on a daily basis.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
