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Release of the Monetary Policy Report

· 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, labour markets and jobs

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· Tiff Macklem Wiki · Bank of Canada WikiRelease of the Monetary Policy Report

ContextOpening statement by Tiff Macklem, Governor of the Bank of Canada, at the press conference following the release of the Monetary Policy Report, Ottawa, Ontario, 24 January 2024.

Why it mattersMacklem holds at 5% while expecting inflation to ease.

Problems raised
  1. Wages and expectations show inflation pressure.
  2. Demand is weak.
  3. Inflation remains high.
Solutions proposed
  1. Hold the rate at 5%.
  2. Expect inflation to ease.
  3. Watch underlying pressures.
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