Bank of Canada governor said no further interest rate hikes will be needed if the economy stalls and inflation comes down. Read more
“Inflation is turning the corner. Monetary policy is working,” Macklem said, adding that economic growth would be “close to zero” through the third quarter of this year.
Just after announcing the last rate hike on Jan 25, Macklem told Reuters he was focused on whether interest rates would need to go higher and was not even considering a cut, pushing back against traders betting that the central bank will move lower as soon as October.
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