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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

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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, 6 March 2024.

Why it mattersMacklem shifts the debate from more hikes to how long rates stay high.

Problems raised
  1. Inflation surprises could require more hikes.
  2. Policy must stay restrictive.
  3. Timing of cuts is uncertain.
Solutions proposed
  1. Hold the rate.
  2. Shift the debate to how long to hold.
  3. Watch inflation closely.
Read full speech on bis.org ↗

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