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Macklem: Economic progress report: Target in sight, but we’re not there yet
Good afternoon. It’s a pleasure to be here. I want to thank the Calgary Chamber of Commerce and the Bank of Canada’s Calgary office for setting up such an impressive event. I look forward to meeting with and hearing from many of you while I’m in Alberta. Monetary policy is working to bring inflation down—and we are encouraged by the progress we’ve made so far. Consumer price index (CPI) inflation was 3.3% in July, roughly in line with what we expected in our July Monetary Policy Report. Our 2% target is now in sight. But we are not there yet and we are concerned progress has slowed. Monetary policy still ... (full story)
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BoC’s Macklem: We’re Prepared to Raise Rates Again but Don’t Want to Hike More Than We Have To
— *seven (@sevenloI) September 7, 2023
BoC’s Macklem: MonPol May Not Be Restrictive Enough to Restore Price Stability
BoC’s Macklem: The Longer We Wait, the Harder It’s Likely to Be to Reduce Inflation
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BOC'S MACKLEM: THE LONGER WE WAIT, THE HARDER IT IS LIKELY TO BE TO REDUCE INFLATION
— First Squawk (@FirstSquawk) September 7, 2023
BOC'S MACKLEM: 2% INFLATION TARGET IS IN SIGHT BUT WE ARE NOT THERE YET; 'WE NEED TO STAY THE COURSE'
BOC'S MACKLEM: BANK IS CONCERNED THAT PROGRESS IN BRINGING DOWN INFLATION HAS SLOWED
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BOC'S MACKLEM: SO FAR WE HAVE BEEN ABLE TO COOL DEMAND WITHOUT UNEMPLOYMENT SPIKING; WAGE GROWTH THOUGH HAS YET TO SHOW CLEAR SIGNS OF MODERATION
— First Squawk (@FirstSquawk) September 7, 2023
BOC'S MACKLEM: WHEN IT COMES TO REVISING MONETARY POLICY FRAMEWORK, IT IS NOT CLEAR THAT ALLOWING FOR HIGHER INFLATION WILL HELP US…