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BoC's Beaudry: Unlikely neutral interest rate will fall below pre-pandemic estimates; there is a meaningful risk it could go up
BOC'S BEAUDRY: UNLIKELY NEUTRAL INTEREST RATE WILL FALL BELOW PRE-PANDEMIC ESTIMATES; THERE IS A MEANINGFUL RISK IT COULD GO UP #News #Markets #PANDEMIC #BOC #capitalhungry
— Capital Hungry (@Capital_Hungry) June 8, 2023
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Beaudry: Adjusting to higher interest rates
Governing Council decided to raise the policy interest rate to 4.75%—the first increase since January. This decision was based on an accumulation of evidence that points to excess demand in the economy persisting longer than expected, increasing the risk that inflation could get stuck above the 2% target. Specifically, strong demand for both goods and services, a tight job market and signs of a rebound in the housing market all highlight persistent inflation pressures in the Canadian economy. We know this tightening cycle has not been easy for many Canadians. But the alternative—not controlling inflation—would ... (full story)
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BOC'S DEP. GOV. BEAUDRY: BANK'S DECISION TO HIKE RATES ON WEDNESDAY WAS NOT TAKEN LIGHTLY AND THE BANK KNOWS HIGHER RATES ARE NOT EASY FOR CANADIANS.
— Breaking Market News (@financialjuice) June 8, 2023
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BOC'S DEP. GOV. BEAUDRY: GOODS INFLATION IN APRIL SURPRISED US BY ACCELERATING, THEREBY REVERSING COURSE AFTER MONTHS OF DECELERATION.
— Breaking Market News (@financialjuice) June 8, 2023