. The bank has lifted rates at a record pace of 425 basis points in 10 months to tame inflation, which peaked at 8.1% and slowed to 6.3% in December, still more than three times the 2% target.
Royce Mendes, director and head of macro strategy at Desjardins, said Macklem and his team would keep rates on hold for at least the next few months.Macklem said the bank wanted to take time to see how effective the rapid hikes had been in dampening excess demand and hot labor markets that have fueled inflation.
Money markets actually see the Bank of Canada cutting rates already in October, but Macklem dismissed discussion of cuts as premature."It's really far too early to be talking about cuts," Macklem said. "The pause really is designed to give us time to assess whether we've raised interest rates enough to get inflation all the way back to target."
Let's all give thanks to the ROTHSCHILDS as well as the BUILDERBERGS for the KAOS in the world.
Of course they are, they need to pay for Trudeau's million dollar stay in Hamilton. D'oh we have to pay for Ukraine. So keep on supporting Ukraine the more will pay.
I love how the Liberals run up our national debt and then tax us via higher rates and inflation. My kids will be paying off JT's bills.
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