Bank of Canada Macklem.It is reasonable to expect further cuts in our policy rate

BOC Macklem is speaking and says:

• It is reasonable to expect further cuts in our policy rate
• The timing and pace will be determined by incoming data and our assessment of what those data mean for future inflation

More:

• Bank of Canada is pleased to see inflation at 2%, now needs to stick the landing.

• Continued easing in core inflation, which is still a little above 2%, is expected.

• Consumer spending, business hiring, and investment will be closely watched.

• There is concern about the rising share of borrowers without a mortgage who carry a credit card balance of at least 90% of their credit limit.

• A notable increase in financial stress among borrowers without a mortgage, mainly renters, has been observed.

• The bank is scaling down work on retail central bank digital currency, shifting focus to broader payments system research and policy development.

This article was written by Greg Michalowski at www.forexlive.com.