BoC's Macklem: BoC is prepared to raise rates further – by eren_fxstreet BOC CentralBanks
Governor Tiff Macklem comments on the policy outlook following the BoC's decision to raise its policy rate by 25 basis points to 5% in July."Further rate decisions will be guided by assessment of incoming data and outlook for inflation.""Higher interest rates are needed to slow growth of demand in the economy and relieve price pressures.""BoC is prepared to raise rates further.""If we don't do enough now, we'll likely have to do even more later.
"Consensus in Governing Council was that monetary policy needed to be more restrictive too bring inflation back to 2% target." If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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