- Analytics
- News and Tools
- Market News
- BoC's Macklem: Inflation is going to be around 3% going forward
BoC's Macklem: Inflation is going to be around 3% going forward
Bank of Canada (BoC) Governor Tiff Macklem expects inflation to be around 3% for next year and then gradually move back to the 2% target. In an interview with The Globe and Mail, he mentioned that the labor market has eased a bit but still remains very tight. He explained they need to see a better balance in the labor market and a moderation in wage growth.
He is surprised by the ongoing strength in demand in the economy. Regarding inflation, Macklem mentioned that he is amazed by the persistence of underlying inflationary pressures.
“It’s not working as quickly or as powerfully as we thought”, said Macklem explaining why the central restarted interest rate hikes.
Market reaction:
USD/CAD rose further above 1.3220 following Macklem's comments. The Loonie was among the worst performers on Friday.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
