-- Bank of Canada Governor Tiff Macklem said the inflation rate remains too high but there are clear signs that aggressive interest-rate hikes are reducing demand.Policymakers remain concerned that they aren’t seeing “downward momentum” in core inflation measures, Macklem told reporters Friday, adding that his governing council is focused on analyzing how a slowing economy will influence price pressures in the future.
The comments suggest the central bank’s decision-makers are still weighing incoming data as they assess whether they’ve hiked borrowing costs enough to bring inflation back down to the 2% target. The central bank’s next rate decision is Oct. 25. Traders in overnight swaps place about 33% odds of another 25 basis point hike at that meeting.“We’re not going to be forecasting a serious recession,” Macklem said.Bank of Canada says higher long-term bond yields no substitute for policy
Ex-CFO Allen Weisselberg got $2M in Trump Org severance. And $2M happened to be his fine last year after he kept Trump safe in a NY tax-fraud trial.House GOP Finally Picks a Speaker—Now Comes the Hard Part
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