Loading ...Bank of Canada Cuts Rates For Third Consecutive Month, Says “Expect Further Cuts”
“Overall weakness in the economy continues to pull inflation down. But price pressures in shelter and some other services are holding inflation up”
Still, realizing that it’s only a matter of time before the BOC pulls off its own Burds Fed, Macklem says inflation may bump up later in the year as base-year effects unwind, and there is a risk that the upward forces on inflation could be stronger than expected, at which point the central bank would of course be forced to abandon its easing campaign, hike rates and also lose all credibility.