BoC's Macklem: More rate hikes will be needed – by eren_fxstreet BOC CentralBanks
Bank of Canada Governor Tiff Macklem said on Thursday more rate hikes will be needed to since there is more to be done on inflation, as reported by Reuters."We need additional information before we consider moving to a more finely balanced decision-by-decision approach."
"Recent decline in overall Canadian inflation is welcome news but inflation will not fade away by itself; price pressures remain high and continue to broaden." "So far, longer-term inflation expectations remain reasonably well-anchored but Canadians will need to see inflation clearly coming down to sustain this confidence.""Recent depreciation of C$ vs USD will offset some of the global improvement in inflation trends by making US goods and vacations more expensive."
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