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Summary of Governing Council deliberations: Fixed announcement date of October 25, 2023
This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on October 25, 2023. This summary reflects discussions and deliberations by members of Governing Council in stage three of the Bank’s monetary policy decision-making process. This stage takes place after members have received all staff briefings and recommendations. Governing Council’s policy decision-making meetings began on Tuesday, October 17. The Governor presided over these meetings. Members in attendance were Governor Tiff Macklem, Senior Deputy Governor Carolyn Rogers and Deputy ... (full story)
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BOC MINUTES: AHEAD OF BANK OF CANADA'S RATE ANNOUNCEMENT, SOME MEMBERS OF GOVERNING COUNCIL FELT RATE WOULD MORE LIKELY THAN NOT NEED TO INCREASE FURTHER.
— Breaking Market News (@financialjuice) November 8, 2023
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BOC MINUTES: COUNCIL MEMBERS ACKNOWLEDGED FURTHER TIGHTENING WOULD LIKELY BE REQUIRED TO RESTORE PRICE STABILITY.
— Breaking Market News (@financialjuice) November 8, 2023
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BOC MINUTES: PERSISTENCE IN CORE INFLATION, ELEVATED INFLATION EXPECTATIONS AND WAGE GROWTH, AND ATYPICAL CORPORATE PRICING BEHAVIOR COULD INDICATE HIGH INFLATION IS BECOMING ENTRENCHED.
— Breaking Market News (@financialjuice) November 8, 2023
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BOC MINUTES: LACK OF DOWNWARD MOMENTUM IN UNDERLYING INFLATION CAUSED CONSIDERABLE CONCERN; THIS COULD EITHER MEAN MONETARY POLICY NEEDED MORE TIME TO WORK, OR THAT IT WAS NOT RESTRICTIVE ENOUGH.
— Breaking Market News (@financialjuice) November 8, 2023