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Macklem: Monetary Policy Decision Press Conference Opening Statement
Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss today’s monetary policy decision. Today, Governing Council maintained the policy interest rate at 2.25%. We’ve held the policy rate at this level since October. The Canadian economy continues to face heightened uncertainty related to US trade policy and geopolitical risks. Now the war in Iran has added a new layer of uncertainty. Its impact on the global and Canadian economies will depend on how long the conflict lasts and the extent to which it spreads across the Middle East. Inflation in Canada has been close to the 2% ... (full story)
Added at 8:47am
Added at 8:47am
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Governor Tiff Macklem discusses key issues involved in the Governing Council’s deliberations about the monetary policy decision. The Governor and Senior Deputy Governor then answer questions from reporters.
BoC's Gov. Macklem: Iran war impact on Canada's economy depends on duration. BOC’S MACKLEM TO REPORTERS WHEN ASKED IF BANK’S UPSIDE/DOWNSIDE RISKS ARE EQUALLY BALANCED: UNCERTAINTY IS HIGH, WE’VE GOT SOME TIME, MAKES SENSE TO HOLD TODAY #Interestrates #Macklem BoC's Gov. Macklem: We don't think we are going to see rapid pass-through of higher energy prices.
The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. The war in the Middle East has increased volatility in global energy prices and financial markets, and heightened the risks to the global economy. The breadth and duration of the conflict, and hence its economic impacts, are ...
