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Macklem: Monetary Policy Report Press Conference Opening Statement
Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss today’s policy announcement and the Bank of Canada’s Monetary Policy Report (MPR). Today, we raised our policy interest rate by 25 basis points to 5%. We are also continuing our policy of quantitative tightening. This decision reflects two broad considerations. First, monetary policy is working, but underlying inflationary pressures are proving more stubborn. We have made considerable progress in the fight against inflation. Consumer price index (CPI) inflation has fallen from a peak of 8.1% last summer to 3.4% in May. ... (full story)
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*BoC’s Macklem: BoC is Prepared to Hike Again if Needed
— *seven (@sevenloI) July 12, 2023
*BoC’s Macklem: BoC Discussed Holding Rates and Awaiting More Data
*BoC’s Macklem: BoC to Assess Rates on Decision-By-Decision Basis
*BoC’s Macklem: BoC Decided Cost of Delay Exceeded Benefit of Waiting