BoC’s Rogers comments on best way to soft landing

Bank of Canada senior deputy governor Carolyn Rogers says bank has seen early signs monetary policy is working.

Key Quotes

”We’re not where we were in July, but we’re a long way from where we need to be.”

”The bank still sees a path to a stop to a soft landing, that’s still our objective’s.”

”Neutral territory is a range, it’s an estimate, there is no magic formula.”

Asked if outsize rate hikes can still be expected, we continue to say that we think front loading is the best way to deal with the underlying causes of inflation