Bank of Canada Governor Macklem – cut in rates a signal we are on track to 2% inflation

Governor of the Bank of Canada, Tiff Macklem, and Senior Deputy Governor Carolyn Rogers appearing before the Standing Senate Committee on Banking, Commerce and the Economy.

Earlier:

• Macklem says getting close to cutting rates

Right after this post the you-know-what hit the fan in the yen, which meant Macklem went on the back burner.

But, he is laying the groundwork for a Bank of Canada rate cut real soon. Check out that link above for his earlier none too subtle hints. More now:

• We don’t have to do what the fed does
• Canada growth this
  year will probably be choppy
• A cut in rates would
  signal we’re on a track back to 2% inflation
• Jobless rate might go up but we don’t see a recession

This article was written by Eamonn Sheridan at www.forexlive.com.