FILE PHOTO: Bank of Canada Governor Tiff Macklem walks outside the Bank of Canada building in OttawaOTTAWA - The Bank of Canada will study the most recent economic data to gauge whether to raise interest rates further, a deputy governor said on Thursday, adding it would still move forcefully if necessary.
Asked to clarify if being prepared to be "forceful" meant the bank was still prepared to make oversized rate moves, Kozicki said it was a hypothetical. "With the labor market still tight and businesses still finding it easy to raise their prices, Governing Council agreed that the economy still needs a more sustained moderation of demand," Kozicki said.
Deliberations ahead of Wednesday's rate hike centered on how supply challenges are resolving, how higher rates are slowing demand, and how inflation and inflation expectations are evolving, Kozicki said.
Source: Loan Digest (loandigest.net)
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