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G20 summit: what to watch
India will host the leaders of G20 member states for the group’s annual summit in the capital, New Delhi, on September 9th‑10th. As the president of the G20 this year, India has set a broad agenda spanning areas from climate-based transition to the inclusion of more developing countries in the grouping. It had hoped to set aside differences between members over Russia’s invasion of Ukraine, although the issue is still set to complicate the issuing of a joint communiqué. EIU takes a look at a few of the key areas upon which the G20 summit is expected to touch. A presidency tested by consensus-building • A draft ... (full story)
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On September 7, 2023, Governor Tiff Macklem speaks before the Calgary Chamber of Commerce.
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 has work to do to restore price stability for Canadians, and we are committed to staying the course. In my time with you here, I will begin by discussing our recent monetary policy decisions. Then I want to dig into the inflation data to give you a sense of what we’re seeing and what we’re looking for on the path to price stability. I also want to outline the progress we’ve seen in rebalancing demand and supply in the economy. How these evolve will be critical to our policy decisions going forward. Finally, I want to answer a question we are getting more frequently from Canadians: Why are we so focused on the 2% target? Isn’t being close to 3% good enough? The short answer is no—and I’ll explain why we’re committed to getting all the way back to 2%. post: BoC’s Macklem: We’re Prepared to Raise Rates Again but Don’t Want to Hike More Than We Have To 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 post: BOC'S MACKLEM: THE LONGER WE WAIT, THE HARDER IT IS LIKELY TO BE TO REDUCE INFLATION 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 post: 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 BOC'S MACKLEM: WHEN IT COMES TO REVISING MONETARY POLICY FRAMEWORK, IT IS NOT CLEAR THAT ALLOWING FOR HIGHER INFLATION WILL HELP US…
Over the past few months intermediate- to long-term Treasury yields have moved higher by as much as 50 basis points,1 despite moderating inflation pressures. Several factors have ...
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post: BoC’s Macklem: It’s Too Early to Be Thinking About Interest Rate Cuts, Because We’re Not There Yet post: BoC's Macklem: I Don't Think You Should Expect Rates Will Go Back To Where They Were In The Decade Between The Global Financial Crisis And Covid
Fintech company MetaQuotes is set to release MetaTrader 5 platform beta build 3930 on September 8, 2023. The new version features the balance operation commands allowing traders ...
post: FED'S WILLIAMS: INFLATION IS FAR TOO HIGH BUT MOVING DOWN. post: FED'S WILLIAMS: LABOR MARKET IMBALANCES ARE EVENING OUT. post: FED'S WILLIAMS: WE ARE SEEING MOVEMENT IN THE RIGHT DIRECTION FOR THE ECONOMY. post: FED'S WILLIAMS: POLICY IS IN A GOOD PLACE AND IS DATA DEPENDENT. post: Fed’s Williams: Open Question if Policy is Restrictive Enough Fed’s Williams: Expects the Unemployment Rate to Edge Up Over Next Year
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- Posted: Sep 7, 2023 2:57pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,443
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