Macklem speech: There was clear consensus to hold policy rate at 5%
Trending Articles- Breaking: Gold falls below $5,000 as oil-driven inflation fears weigh
- Goldman Sachs Raises Oil Price Forecasts and Warns Oil May Break All-Time Highs if Strait of Hormuz Disruption Persists
- WTI climbs above $95.50 as Iran says the Strait of Hormuz must remain closed
- Breaking: WTI rises above $92.50 amid supply disruption fears, geopolitical turmoil
- Surging Over 20%. Ethereum Crushing Bitcoin, What Does This Really Mean?
- WTI trades below $82.00 as IEA plans record Oil reserve release
Tiff Macklem, Governor of the Bank of Canada (BoC), explains the BoC decision to leave the interest rate unchanged at 5% after the April policy meeting and responds to questions from the press.
Key quotes
"We did discuss when to reduce rates, there was clear consensus to hold it at 5%."
"There is some diversity of views in the Governing Council as to when we're going to see what we're looking for."
"Overall, C$ 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.
