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BOC Macklem: Policy rate is about right to keep inflation close to 2%.
Key Takeaways (30s Read)
BOC Governor Macklem emphasizes maintaining the inflation target and views the policy rate as appropriate.
BOC Governor Tiff Macklem stated that the current policy rate of 2.25% balances inflation control and economic support. He emphasized that inflation expectations remain anchored, providing confidence in the current policy stance. The upcoming review in 2026 will focus on the conduct of policy in a more shock-prone world rather than reconsidering inflation targeting. Macklem also acknowledged the impacts of rising US protectionism on trade and business investment, emphasizing the importance of price stability. The Bank plans to regulate stablecoins to enhance innovation while minimizing risks to financial stability.
AI Analyst
AI Opinion
"The BOC's future direction is supported by the market's expectation of keeping inflation below 3%. Governor Macklem's remarks underscore the importance of maintaining the policy rate appropriately while reiterating the significance of inflation targeting. This stance is likely to have a positive impact on Canada's financial markets and domestic economy in the future. However, external factors such as rising U.S. protectionism and geopolitical risks must be monitored closely. Especially if trade-related costs continue to rise, concerns for the Canadian economy may grow. How the BOC adjusts its policies in such an environment will be a key focus."
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