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Opening statement before the Monetary Policy Report Press Conference

· Tiff Macklem, Governor of the Bank of Canada (Canada)

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability

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· Tiff Macklem Wiki · Bank of Canada WikiOpening statement before the Monetary Policy Report Press Conference

ContextOpening statement by Tiff Macklem, Governor of the Bank of Canada, before the Monetary Policy Report Press Conference, Ottawa, Ontario, 13 April 2022.

Why it mattersMacklem explains the half-point hike after the invasion.

Problems raised
  1. Russia's invasion causes suffering.
  2. Oil prices and supply chains drive inflation.
  3. Expectations must stay anchored.
Solutions proposed
  1. Raise rates.
  2. Keep expectations anchored.
  3. Expect inflation to fall back.
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