Tag: Bank of Canada

Bank of Canada Chief Says Job Not Done Despite Cooler Inflation

(Bloomberg) — The Bank of Canada has more work to do in taming stubborn price pressures despite signs headline inflation may have peaked, Governor Tiff Macklem said.Most Read from BloombergSaudi Billionaire Made $500 Million Russia Bet at War Onset‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in AdultsWells Fargo Plans Major Retreat From Mortgage Business It Long DominatedThese Six Cities Are Emerging as New Expat Hot SpotsAmerica’s $7 Trillion Retirement Crisis Is Only Get
— Read on ca.finance.yahoo.com/news/bank-canada-chief-says-job-193042620.html

Bank of Canada says rates may have to double to fend off ‘galloping inflation’

OTTAWA (Reuters) -The Bank of Canada will probably have to raise its policy rate to the top of its neutral range, double its current level, and could go higher, to prevent soaring inflation from becoming entrenched, a deputy governor said on Thursday. Paul Beaudry, speaking to a business audience in the Ottawa area, said the central bank was considering the pace at which it moves to neutral, the 2%-3% range where interest rates neither stimulate nor weigh on growth, along with how high rates may go. The central bank on Wednesday increased its policy rate to 1.5% from 1.0%, its second consecutive half percentage point hike, and said it would “act more forcefully” if needed to tame inflation.
— Read on ca.finance.yahoo.com/news/bank-canada-says-rates-may-144710168.html

Bank of Canada to Weigh New 50 Basis-Point Hike, Macklem Says – Bloomberg

Bank of Canada Governor Tiff Macklem said the central bank will consider another 50-basis-point increase to its benchmark interest rate to wrestle inflation down from three-decade highs.
— Read on www.bloomberg.com/news/articles/2022-04-25/back-of-canada-will-weigh-new-50-basis-point-hike-macklem-says

Bank of Canada Seen as Behind the Curve After Rate Surprise

(Bloomberg) — Governor Tiff Macklem was going to risk losing some credibility at this week’s Bank of Canada decision, whatever he did.Most Read from BloombergPowell Backs March Liftoff, Won’t Rule Out Hike Every MeetingA Nor’easter Approaching New York Risks Becoming a Bomb CycloneStocks Halt Rally as Bond Yields Spike After Fed: Markets WrapAstronomers Spot Never-Before Seen Object at 4,000 Light-Years AwayScientists Identify Factors That Appear Linked to Long CovidHis own analysts presented h
— Read on ca.finance.yahoo.com/news/bank-canada-puts-credibility-line-212505053.html