Bank of Canada Governor Tiff Macklem He said on Tuesday that further rate hikes will not be necessary if, as expected, the economy stagnates and inflation declines, Reuters reported.
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“If the new data is broadly in line with our forecasts and inflation comes down as expected, we won’t need to raise rates any further,” Macklem said in a speech to financial analysts in Quebec City.
“We monopolize inflation. Monetary policy is working,” Macklem said, adding that economic growth would be “close to zero” until the third quarter of this year.
USD/CAD Update
We are heading for an inside day as the US dollar rallied on comments from Federal Reserve Chairman Jerome Powell:
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
