“As things start to get more back to normal, at some point, yes, we probably will be thinking about some modest cuts in interest rates,” Macklem said. — Reuters
OTTAWA: Bank of Canada (BoC) governor Tiff Macklem says he is focused on whether interest rates will need to go higher and is not even considering a cut, pushing back against traders betting that the central bank will move lower as soon as October.
Macklem made his remarks in an interview with Reuters after earlier announcing a rate hike and saying the central bank would pause to see how the economy was reacting to tightening.
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