- We need to ensure inflation expectations remain moored and that was part of our decision today
- We have see a very-impressive recovery in the economy
- The labour market has more-than fully recovered
- The latest budget isn't incorporated into our forecast but spending isn't on a scale that would materially impact our estimates
- Roughly 40% of the bonds on our balance sheet will mature within 2 years
- "At this time" we don't see the need to actively sell bonds
- Rogers: Household balance sheets have improved over the pandemic
- Rogers: We think that consumers can withstand higher rates
- Rogers: There is a stronger interest in investing from businesses
- We haven't seen much strengthening of the Canadian dollar and that has some implications
- We're not getting a rise this time in the Canadian dollar along with oil
- I'll leave it to markets to determine the value of the Canadian dollar
- We're not getting as much as an investment response from the oilpatch as historically
- We need to be humble about the path of rates once we get closer to neutral
- Prices are too high; more than two-thirds of CPI components are rising faster than 3%
- 50 bps hike sends the message that mon pol needs to be normalized relatively quickly
- We're not on auto-pilot
