22:50:13
Bank of Canada Governor Macklem: Global growth has slowed, but not as severely as we expected.
22:50:09
Bank of Canada Governor Macklem: Unanimous decision to maintain policy interest rate at 5%.
22:50:06
The initial value of the U.S. manufacturing PMI in January was 50.3, a 15-month high; the manufacturing output index was 48.7, a 2-month high; the services PMI initial value was 52.9, a 7-month high; the composite PMI The preliminary value was recorded at 52.3, a seven-month high.
22:50:02
Bank of Canada Governor Macklem: The push and pull effect of inflation means further declines are likely to be gradual and uneven, the path back to the 2% target will be slow, and risks remain.
22:49:45
Bank of Canada Governor Macklem: If the economy develops broadly in line with our latest forecast, we expect future discussions to focus on the length of time we will keep interest rates at 5%.
22:49:36
Bank of Canada Governor MacCallum: We need to give higher interest rates enough time to take effect.
22:49:30
Bank of Canada Governor Macklem: This does not mean that we rule out the possibility of further raising policy rates; if new developments push up inflation, we may still need to raise interest rates.
22:49:14
Bank of Canada: Inflation remains too high, with housing and food price inflation continuing to strengthen.
22:49:09
Bank of Canada: CPI is expected to remain close to 3% in the first half of 2024.
22:49:04
Bank of Canada: There is still considerable uncertainty about the economic outlook; overall, risks to the outlook are balanced.
22:48:56
Bank of Canada: The output gap in the fourth quarter of 2023 is estimated to be between -0.25% and -1.25%; from 2023 to 2025, potential output is expected to grow by an average of about 2%.
22:48:35
Bank of Canada: The Canadian economy is expected to grow by 1.0% in 2023 (1.2% in October), 0.8% in 2024 (0.9% in October), and 2.4% in 2025 (2.5% in October).
22:48:02
Bank of Canada: If wages continue to grow in the 4-5% range and productivity growth remains weak, inflationary pressures may increase,
22:47:51
Bank of Canada: Housing services price inflation is expected to decline moderately over the next few years and pose significant resistance to a return to target levels.
22:47:39
Bank of Canada: In the first half of 2024, the inflation rate is expected to be around 3%, slowing to 2.5% in the second half, and returning to the 2% target level in 2025; it said in October last year that the target would be reached by the end of 2025.
22:46:59
Bank of Canada: Oil prices are about $10 a barrel lower than the assumptions predicted in the October monetary policy report.
22:46:51
The Bank of Canada reiterated that it wants to see a further sustained slowdown in core inflation and will focus on the balance of supply and demand, inflation expectations, wage growth and corporate pricing behavior.
22:46:40
Bank of Canada: Inflation is expected to remain close to 3% in the first half of 2024 and return to the 2% target level in 2025.
22:46:25
Bank of Canada: Canada’s economic growth is likely to remain near zero through the first quarter of 2024 and gradually strengthen around mid-2024.
22:46:18
After the announcement of the Bank of Canada interest rate decision, the U.S. dollar/Canadian dollar USD/CAD rose nearly 20 points in the short term and is now at 1.3446.
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