Macklem speech: There was clear consensus to hold policy rate at 5%
Trending Articles- Bitcoin Reclaims $70,000. Cathie Wood Claims Near Potential Bottom, Will This Time Be Different?
- Gold Price Forecast: XAU/USD falls below $5,050 as traders await US jobs data
- Gold climbs to $5,050 as Fed-driven USD weakness offsets positive risk tone ahead of US NFP
- Is the Crypto Rally Dead? Why Bernstein Still Predicts a $150K Bitcoin Peak Despite Waller’s Warnings
- Silver Price Forecast: XAG/USD rebounds above $76.50 after sharp drop, eyes on US CPI data
- Today’s Market Recap: AI Panic Intensifies, Global Assets Fall Broadly
Tiff Macklem, Governor of the Bank of Canada (BoC), explains the BoC decision to leave the interest rate unchanged at 5% after the April policy meeting and responds to questions from the press.
Key quotes
"We did discuss when to reduce rates, there was clear consensus to hold it at 5%."
"There is some diversity of views in the Governing Council as to when we're going to see what we're looking for."
"Overall, C$ has been reasonably stable, if it does move we'll take that into account."
"Gas prices tend to go up and down. So that's one reason why we're particularly focused on core inflation."
Market reaction
USD/CAD clings to strong gains following these comments and was last seen trading at 1.3675, rising 0.75% on the day.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
