Macklem speech: There was clear consensus to hold policy rate at 5%
Trending Articles- Iranian military drones targeted US Fifth Fleet in Bahrain in response to southern US strikes
- Gold plummets below $4,200 as US‑Iran tensions spur hawkish rate bets ahead of US CPI
- Gold Price Trend Forecast: US-Iran Peace Talks Drive Gold Rebound, Is the Gold Slump Over?
- SpaceX Listing Imminent. Funds Flood Into SpaceX On-Chain Tokens, Bitcoin Rebound Momentum May Be Weakened
- US May CPI Preview: Rising Inflation May Push Up Fed Rate Hike Expectations, How Will US Stocks, Dollar, Gold React?
- Gold Drops Below $4,300 Erasing Year-to-Date Gains. This Week’s CPI May Ignite Rate Hike Expectations Will Gold Still Rise in 2026?
Tiff Macklem, Governor of the Bank of Canada (BoC), explains the BoC decision to leave the interest rate unchanged at 5% after the April policy meeting and responds to questions from the press.
Key quotes
"We did discuss when to reduce rates, there was clear consensus to hold it at 5%."
"There is some diversity of views in the Governing Council as to when we're going to see what we're looking for."
"Overall, C$ 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.
