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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 monetary policy decision, Ottawa, Ontario, 10 April 2024.

Why it mattersMacklem holds at 5% and says cuts depend on core inflation easing further.

Problems raised
  1. Core inflation declined only recently.
  2. Inflation is above target.
  3. Pricing and wages matter.
Solutions proposed
  1. Hold the rate at 5%.
  2. Watch core inflation.
  3. Track demand, expectations and wages.
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