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Monetary Policy Decision

· 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 WikiMonetary Policy Decision

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, 11 December 2024.

Why it mattersThe Bank of Canada makes a large half-point cut as inflation is back at target.

Problems raised
  1. Policy was still restrictive.
  2. Inflation was back to target.
  3. The economy needed support.
Solutions proposed
  1. Cut the rate by 0.5 point.
  2. Use core inflation to assess the trend.
  3. Move policy out of restrictive territory.
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