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Macklem: Monetary Policy Report Press Conference Opening Statement
ood 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 maintained our policy interest rate at 5%. We are also continuing our policy of quantitative tightening. Inflation has come down a lot since the summer of 2022, but as every Canadian knows, inflation is still too high. We held our policy rate steady today because monetary policy is working to cool the economy and relieve price pressures, and we want to give it time to do its job. But further easing in inflation is likely to be ... (full story)
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BoC's Macklem: Further Easing In Inflation Is Likely To Be Slow And Inflationary Risks Have Increased; Worried Higher Energy Prices And Persistence In Underlying Inflation Are Slowing Progress
— LiveSquawk (@LiveSquawk) October 25, 2023
- We've Made A Lot Of Progress But We Are Not There Yet; We Need To Stay The Course
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BoC Macklem: C$ Has Been Reasonably Stable
— LiveSquawk (@LiveSquawk) October 25, 2023
- We're Not Getting The Direct Effect Of An Appreciation To Lower Import Inflation
- So That Does Mean We Have Got To Rely More On The Interest Rate
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BOC'S GOV. MACKLEM: THE BOC NEEDS TO SEE DOWNWARD MOMENTUM IN CORE INFLATION.
— Breaking Market News (@financialjuice) October 25, 2023
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BOC'S GOV. MACKLEM: NEAR-TERM INFLATION EXPECTATIONS ABOVE THE BOC'S FORECASTS.
— Breaking Market News (@financialjuice) October 25, 2023