{"id":90856,"date":"2023-10-13T20:43:45","date_gmt":"2023-10-13T16:43:45","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=90856"},"modified":"2023-10-13T22:25:37","modified_gmt":"2023-10-13T18:25:37","slug":"bocs-macklem-not-really-seeing-downward-momentum-in-underlying-inflation","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/bocs-macklem-not-really-seeing-downward-momentum-in-underlying-inflation\/10\/13\/market-updates\/","title":{"rendered":"BoC&#8217;s Macklem: Not really seeing downward momentum in underlying inflation"},"content":{"rendered":"\n<p>Bank of Canada Governor Tiff Macklem said on Friday that they were concerned because they were not really seeing a downward momentum in inflation, per Reuters.<br><br>USD\/CAD edged lower following these comments and was last seen losing 0.25% on the day at 1.3655.<br><br><strong>Key Quotes<br><\/strong><br>&#8220;Bank of Canada is not expecting a recession in Canada.&#8221;<br><br>&#8220;When bank releases economic projections on October 25, we&#8217;re not going to be forecasting a serious recession.&#8221;<br><br>&#8220;When Governing Council next meets, it will focus on whether to stick with its 5% rate or if more action is needed to restore price stability.&#8221;<br><br>&#8220;Higher long-term bond yields are not a substitute for doing what needs to be done to get inflation back down to our target.&#8221;<br><br>&#8220;We are seeing clear signs monetary policy is working to rebalance supply and demand but inflation is still too high.&#8221;<br><br>&#8220;We will continue to face geopolitical shocks; in this environment, we need to be prepared for ongoing volatility.&#8221;<br><br>&#8220;Strength of Canadian economy means people are getting wage increases that will help make it easier to digest impact of higher mortgage rates after renewal.&#8221;<br><br>&#8220;Longer run inflation expectations remain well anchored; shorter run expectations have come down but they are still too high.&#8221;<br><br>&#8220;This is adding uncertainty; monetary policy can influence demand to relieve inflationary pressures, but supply is harder to predict.&#8221;<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bank of Canada Governor Tiff Macklem said on Friday that they were concerned because they were not really seeing a downward momentum in inflation, per Reuters.USD\/CAD edged lower following these comments and was last seen losing 0.25% on the day at 1.3655.Key Quotes&#8220;Bank of Canada is not expecting a recession in Canada.&#8221;&#8220;When bank releases economic &hellip;<\/p>\n","protected":false},"author":13,"featured_media":33760,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6932,7901,7015],"class_list":["post-90856","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-boc","tag-tiff-macklem","tag-usd-cad"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/90856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=90856"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/90856\/revisions"}],"predecessor-version":[{"id":90905,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/90856\/revisions\/90905"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/33760"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=90856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=90856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=90856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}