BoC's Macklem: Canadian inflation to stay close to 2.9% for next several months
While speaking before the House of Commons Finance Committee on Thursday, Bank of Canada (BoC) Governor Tiff Macklem said Canadian inflation rate will probably stay close to 2.9% for the next several months, citing rising gasoline prices, per Reuters.
"Here is a limit to how far US and Canadian interest rates can diverge, certainly we're not close to that limit," Macklem added and reiterated that the BoC is looking for reassurance that the recent fall in underlying inflation will be sustained, when asked about the timing of a policy pivot.
Market reaction
USD/CAD edged slightly lower following these comments and was last seen losing 0.2% on the day at 1.3710.
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.