Macklem opening statement: We are getting close to the end of tightening but not there yet

• Tightening phase will draw to a close
• We are still far from the gola of ensuring inflation is low, stable and predictable
• There are no easy outs to restoring price stability, we are trying to balance the risks or under and over-tightening
• High interest rates are beginning to weigh on growth
• We expect growth to stall in the next few quarters: once we get through this slowdown, growth will pick up
• Noted emergence of financial stresses in some markets in recent months
• Seeing early encouraging signs that underlying 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 is coming down

This is more-dovish than I anticipated so far. We could be heading to another 25 bps then a pause.

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