Bank of Canada Governor Macklem speaking to an upper house committee in the Canadian parliament. Via video conference.
Senate Committee on Banking, Trade and Commerce
Remarks, Headlines via Reuters
- Following a sharp bounce back in economic activity in the fall and winter, we’ve seen choppiness in growth again in Q2
- complete recovery will still take some time
- third wave of the virus has been a setback
- overall, we expect the housing market to be better balanced, but we will continue to watch it closely
- timing of 2% inflation target is unusually uncertain
- further adjustments to our QE program will be gradual, and we will be deliberate in both our assessment of incoming data and the communication of our analysis
As I post CAD is doing basically nothing on all this.
