BOC's Macklem: If we see signs inflation stuck materially above 2%, we could hike again

• There's a risk inflation will get stuck materially above 2%
• Expect inflation to decline to about 3% this summer
• We are encouraged by progress so far but getting inflation back down to 2% is going to be more difficult
• For inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term to 2%, labor market needs to rebalance and corporate pricing behaviour needs to normalize
• persistent wage growth in 4-5% range will make it hard to reach 2% target
• Reemergence of pervasive global financial stress could have major spillover results for Canada

What counts as 'materially'? That's left deliberately vague. The market sees the BOC at the end of the cycle and nothing in tomorrow's Canadian jobs report would change that.