BoC’s Macklem: Could certainly be two or three quarters of small negative growth

Tiff Macklem, Governor of the Bank of Canada (BoC), explains the BoC decision to leave the interest rate unchanged at 5% after the October policy meeting and responds to questions from the press.

Key Quotes

“Could certainly be two or three quarters of small negative growth.”

“Not predicting a deep recession with a steep contraction and major job cuts.”

“The path to a soft landing has become narrower.”

“Really pleased to see focus governments are putting on increasing housing supply.”

“If spending plans of various levels of governments are fully carried out next year, that would not be helpful in tackling inflation.”