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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, trade, fragmentation and geopolitics, growth, investment and productivity

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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 and Carolyn Rogers, Senior Deputy Governor of the Bank of Canada, at the press conference following the monetary policy decision, Ottawa, Ontario, 23 October 2024.

Why it mattersThe Bank of Canada makes a half-point cut and says risks are now balanced.

Problems raised
  1. Household spending and investment may recover slowly.
  2. Geopolitical uncertainty is high.
  3. Inflation could miss target either way.
Solutions proposed
  1. Cut the policy rate by 0.5 point.
  2. Treat risks symmetrically.
  3. Watch new shocks.
Read full speech on bis.org ↗

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