BOC's Macklem: High rates, slow growth will impact government spending

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

Bank of Canada (BoC) Governor Tiff Macklem commented earlier Tuesday that the central bank continues to assess whether monetary policy is sufficiently restrictive while not starting to talk about interest rate cuts.

Key quotes We held policy steady because monetary policy is working to cool the economy and relieve price pressures. We continue to assess whether monetary policy is sufficiently restrictive. If inflationary pressures persist, we are prepared to raise our policy rate further to restore price stability. Low growth, higher rates will impact the government budget.

Protecting Canada's very good fiscal position is important. I don't think fiscal policy in Canada is in a situation where it's unsustainable. But I do think protecting our very good fiscal position is important. Market reaction The comments above have little to no impact on the Canadian Dollar. At the time of writing,the USD/CAD pair is trading near 1.3826, unchanged on the day

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank of Canada’s Macklem: If inflationary pressures persist, we are prepared to raise rates furtherIn his opening statement before the House of Commons Standing Committee on Finance, Tiff Macklem, Governor of the Bank of Canada said that they are prepared to raise interest rates further if inflationary pressures persist.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Canadian Dollar Outlook After BoC Stands Pat: USD/CAD, EUR/CAD, AUD/CADCAD is testing the lower end of the past one-year range against USD after BoC governor last week indicated that interest rates may have peaked. What is the outlook for USD/CAD, AUD/CAD, and EUR/CAD?
Source: DailyFX - 🏆 305. / 63 Read more »

US Fed Likely to Pause Again With Rates at 22-Year HighThe Federal Reserve will likely announce it is holding interest rates at a 22-year high on Wednesday, as it looks to tackle inflation without damaging the resilient US economy.Analysts and traders parsing recent Fed speeches overwhelmingly expect the US central bank to hold...
Source: NEWSMAX - 🏆 16. / 71 Read more »