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Gravelle: The perfect storm
Good morning. It is a pleasure to be here—and a particular pleasure to be giving my very first in-person speech since I joined the Bank of Canada’s Governing Council. It’s so nice to see people without the fancy or blurred backgrounds we see in our virtual world. Kidding aside, it is wonderful to be here among friendly faces and fellow economists. I’d like to apologize in advance, as I can’t stay long after my speech. So let me jump into what I want to talk about today—the commodity price shock that has come with the pandemic and the war in Ukraine, and what it means for Canada. Commodity prices have had ... (full story)
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BOC'S GRAVELLE: BROADENING OF PRICE PRESSURES IS A BIG CONCERN BUT WE ARE NOT SEEING A REPEAT OF 1970S-STYLE STAGFLATION; INFLATION IS MUCH LOWER, ECONOMY IS RUNNING PRETTY HOT, JOB MARKET IS TIGHT #News #Forex #BOC #INFLATION
— Capital Hungry (@Capital_Hungry) May 12, 2022
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BOC’S DEP. GOV. GRAVELLE: THE BANK OF CANADA WILL LIKELY FURTHER LIFT ITS NEAR-TERM INFLATION FORECASTS, GIVEN THE MARCH CPI WAS ABOVE THE BANK'S PROJECTIONS.
— Breaking Market News (@financialjuice) May 12, 2022
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BOC'S GRAVELLE: OTHER REASONS TO POTENTIALLY LIFT RATES ABOVE NEUTRAL COULD INCLUDE STRONGER HOUSING ACTIVITY #News #Forex #BOC
— Capital Hungry (@Capital_Hungry) May 12, 2022