Tiff Macklem, Governor of the Bank of Canada (BoC), explains the BoC's decision to keep the interest rate at 5% after the April monetary policy meeting and answers questions from the press.
Featured Statements
“We discussed when to reduce rates, there was a clear consensus on keeping them at 5%.”
“There is some diversity of opinion in the Governing Council about when we will see what we are looking for.”
“Overall, the C$ has remained reasonably stable, if it moves we will take that into account.”
“Gas prices tend to go up and down. So that's one of the reasons we're especially focused on core inflation.”
Market reaction
USD/CAD is holding on to strong gains following these comments and was last trading at 1.3675, up 0.75% on the day.
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.
