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  • Macklem: Monetary Policy Report Press Conference Opening Statement

    From bankofcanada.ca

    Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss today’s policy announcement and the Bank’s Monetary Policy Report (MPR). Today, we raised the policy interest rate by 50 basis points to 3.75%. This is the sixth consecutive increase since March. Quantitative tightening continues and is complementing increases in the policy rate. We also expect our policy rate will need to rise further. How much further will depend on how monetary policy is working to slow demand, how supply challenges are resolving and how inflation and inflation expectations are responding to this ... (full story)

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News is CAD...but infact in USD.....ha ha ha
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This all sounds extremely dovish to me. So Why cad rising?!
stay calm with #XAU
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Quoting Guest
This all sounds extremely dovish to me. So Why cad rising?!
They literally said, the will keep raising rates . Yes the current upper range is 4.5% so 0.75 to go is not that much, but still not a time to be short Canadian dollar.
Quoting Guest
This all sounds extremely dovish to me. So Why cad rising?!
CAD should be rising a lot more than it is because:

1. OIL is a proxy for the Loonie and look at what OIL is doing - up 3%

2. CAD hasn't reached their pivot point YET so they will CONTINUE to raise rates
...because you never know - until you do!
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