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BoC’s Macklem: It’s Too Early to Be Thinking About Interest Rate Cuts, Because We’re Not There Yet
BoC’s Macklem: It’s Too Early to Be Thinking About Interest Rate Cuts, Because We’re Not There Yet
— *seven (@sevenloI) September 7, 2023
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BoC's Macklem: I Don't Think You Should Expect Rates Will Go Back To Where They Were In The Decade Between The Global Financial Crisis And Covid
— LiveSquawk (@LiveSquawk) September 7, 2023
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- From eiu.com|Sep 7, 2023
India will host the leaders of G20 member states for the group’s annual summit in the capital, New Delhi, on September 9th‑10th. As the president of the G20 this year, India has ...
- From youtube.com/bankofcanadaofficial|Sep 7, 2023
On September 7, 2023, Governor Tiff Macklem speaks before the Calgary Chamber of Commerce.
- From bankofcanada.ca|Sep 7, 2023
Good afternoon. It’s a pleasure to be here. I want to thank the Calgary Chamber of Commerce and the Bank of Canada’s Calgary office for setting up such an impressive event. I look forward to meeting with and hearing from many of you while I’m in Alberta. Monetary policy is working to bring inflation down—and we are encouraged by the progress we’ve made so far. Consumer price index (CPI) inflation was 3.3% in July, roughly in line with what we expected in our July Monetary Policy Report. Our 2% target is now in sight. But we are not there yet and we are concerned progress has slowed. Monetary policy still has work to do to restore price stability for Canadians, and we are committed to staying the course. In my time with you here, I will begin by discussing our recent monetary policy decisions. Then I want to dig into the inflation data to give you a sense of what we’re seeing and what we’re looking for on the path to price stability. I also want to outline the progress we’ve seen in rebalancing demand and supply in the economy. How these evolve will be critical to our policy decisions going forward. Finally, I want to answer a question we are getting more frequently from Canadians: Why are we so focused on the 2% target? Isn’t being close to 3% good enough? The short answer is no—and I’ll explain why we’re committed to getting all the way back to 2%. post: BoC’s Macklem: We’re Prepared to Raise Rates Again but Don’t Want to Hike More Than We Have To BoC’s Macklem: MonPol May Not Be Restrictive Enough to Restore Price Stability BoC’s Macklem: The Longer We Wait, the Harder It’s Likely to Be to Reduce Inflation post: BOC'S MACKLEM: THE LONGER WE WAIT, THE HARDER IT IS LIKELY TO BE TO REDUCE INFLATION BOC'S MACKLEM: 2% INFLATION TARGET IS IN SIGHT BUT WE ARE NOT THERE YET; 'WE NEED TO STAY THE COURSE' BOC'S MACKLEM: BANK IS CONCERNED THAT PROGRESS IN BRINGING DOWN INFLATION HAS SLOWED post: BOC'S MACKLEM: SO FAR WE HAVE BEEN ABLE TO COOL DEMAND WITHOUT UNEMPLOYMENT SPIKING; WAGE GROWTH THOUGH HAS YET TO SHOW CLEAR SIGNS OF MODERATION BOC'S MACKLEM: WHEN IT COMES TO REVISING MONETARY POLICY FRAMEWORK, IT IS NOT CLEAR THAT ALLOWING FOR HIGHER INFLATION WILL HELP US…
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- From forex.com|Sep 7, 2023
Gold prices are down nearly 1.9% off the monthly high with XAU/USD paring a portion of the mid-August rally. The stage is set heading into the FOMC rate decision this month and ...
- From bnnbloomberg.ca|Sep 7, 2023
Developing-nation currencies fell for a fourth day, coming within a whisker of erasing all of this year’s gains. A loss of 0.8% this week has left MSCI Inc.’s gauge of ...
- From @sevenloI|Sep 7, 2023
post: Fed’s Goolsbee: It’s Possible We Can Get on ‘Golden Path’ Fed’s Goolsbee: Overall Level of Inflation’s Above Where We Want It Fed’s Goolsbee: Clearly There Are Risks Fed’s Goolsbee: We Have Also Had False Dawns on Inflation Before post: Fed’s Goolsbee: Want to See Progress on Core Inflation, Especially Goods and Housing Fed’s Goolsbee: I’d Pay Less Attention to Wage Growth as an Indicator of Inflation Fed’s Goolsbee: Market’s Expectations on Inflation Also Has a Major Influence
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- Posted: Sep 7, 2023 3:04pm
- Submitted by:Category: Low Impact Breaking NewsComments: 0 / Views: 3,820
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