Bank of Canada to make rate decisions based on domestic economic situation, not markets or the Fed, says Macklem
Macklem said the U.S. and Canadian economies have key differences which will lead to different interest rate decisions
The Bank of Canada's governing council will make monetary policy decisions based on Canada's economic situation, rather than being influenced by Federal Reserve decisions or market predictions, according to Bank of Canada governor Tiff Macklem.
The central bank's focus is on preventing second-round inflation effects, and the timing and pace of rate hikes will depend on how growth and inflation risks evolve.
According to the Financial Post, Macklem emphasized that the bank's decisions will be based on domestic economic realities. The National Bank of Canada's Ethan Currie notes that while inflation risks have increased, the Bank of Canada is likely to remain on hold in October due to domestic slack and trade uncertainty.
Brief written by urgent.news from Financial Post, FXStreet — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
