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
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, regains positive traction on Tuesday and climbs back above the mid-99.00s during the first half of the European session.
West Texas Intermediate (WTI) oil price gains ground for the second successive day, trading around $85.60 per barrel during the Asian hours on Tuesday.
The US and Iran exchanged direct fire again after more than a month, rapidly escalating shipping risks in the Strait of Hormuz and pushing international oil prices back above $90 a barrel
As of the Asian session on August 31, gold prices today (XAUUSD) extended last Friday's decline, briefly falling below $4,400 during intraday trading to hit a low of $4,396.36. Last Frida
Today’s Market Recap: Escalating US-Iran Conflict Pushes Oil Past $90, Warsh's Hawkish Remarks Boost Fed Rate-Hike Expectations, August Nonfarm Payrolls in Focus This WeekTracking Market TrendsTradingKey - On August 28, Eastern Time, the three major U.S. stock indexes closed lower across the board. Remarks by Federal Reserve Chairman Warsh at the Jackson Hole symposium
Tracking Market TrendsTradingKey - On August 28, Eastern Time, the three major U.S. stock indexes closed lower across the board. Remarks by Federal Reserve Chairman Warsh at the Jackson Hole symposium
Related Instrument
