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The Bank of Canada (BOC) indicates that wage pressures are moderating gradually, suggesting the economy is still in excess supply. Recent data show easing underlying inflation, leading to less restrictive monetary policy. BOC Governor Macklem mentions taking rate decisions one meeting at a time and hints at potential future rate cuts depending on data.
⚠️ BOC'S MACKLEM: WE STILL NEED RESTRICTIVE MONETARY POLICY
⚠️ BOC'S MACKLEM: PATH OF ANY FUTURE INTEREST RATE CUTS LIKELY TO BE GRADUAL **DON'T NEED TO MOVE LOCK AND STEP WITH THE U.S. FED **ARE LIMITS TO HOW FAR WE CAN DIVERGE FROM U.S. AND WE ARE NOT CLOSE TO THOSE LIMITS
⚠️ BANK OF CANADA GOVERNOR TIFF MACKLEM, ASKED ABOUT CHANCES OF A JULY RATE CUT, SAYS WE'RE GOING TO BE TAKING DECISIONS ONE MEETING AT A TIME **BOC'S MACKLEM: TMING OF ANY FURTHER CUTS WILL DEPEND ON DATA