Bank of Canada governor said no further interest rate hikes will be needed if the economy stalls and inflation comes down. Read more
at a record pace to 4.5 per cent to tame inflation, which was 6.3 per cent in December, still well above the bank’s 2 per cent target. Last month, it said it would hold off on further moves to let the effects of past increases sink in.Start your day with a roundup of B.C.-focused news and opinion delivered straight to your inbox at 7 a.m., Monday to Friday.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
On Monday, a median of market participants surveyed by the central bank forecast borrowing costs would come down by half-a-percentage-point by the end of this year, and would fall further next year.Article content “We are prepared to raise interest rates further,” Macklem said on Tuesday, but the overall tone of the speech was more dovish than his comments following last month’s rate hike.
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