BoC's Macklem: We don't have to do what the Fed does
Source Fxstreet
Bank of Canada (BoC) Governor Tiff Macklem hit newswires late Wednesday, reiterating that the BoC isn't beholden to following the Federal Reserve's (Fed) playbook as the two central banks grapple with slightly different economic situations.
Key highlights
- BoC is getting close to being able to cut rates.
- GDP growth is expected to be 1.5% in 2024, 2.0% in 2025 and 2026.
- Data since January has increased our confidence that inflation will continue to come back down.
- BoC expected core inflation to continue to ease gradually.
- Growth in the Canadian economy appears to be picking up.
- Monetary policy appears to be working.
- BoC does not have to do whatever the Fed does.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Here is what you need to know on Friday, May 29:
Understand how the Strait of Hormuz shock moved markets, and what CFD traders watched next.
Discover the best Japanese stocks to buy, including AI semiconductor leaders, Buffett-backed trading houses, and undervalued Japan stocks benefiting from corporate reforms and yen trends.
West Texas Intermediate (WTI) oil price extends its losses for the third successive day, trading around $87.20 per barrel during the Asian hours on Friday.
On May 27, Bloomberg reported that copper trading activity has intensified as market expectations of potential copper tariffs under a Trump administration heat up, prompting traders to sh
Related Instrument
