Bank of Canada ‘not even thinking’ of cutting rates

“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.