More from BoC Gov. Macklem - inflation could be entrenched, or it might come down faster

Bank of Canada Governor Tiff Macklem and Senior Deputy Carolyn Rogers appear before the House of Commons Standing Committee on Finance

We heard from Rogers on Tuesday (local CAD CAD The Canadian dollar (CAD) is the official currency of Canada and at the time of writing is the fifth most-held reserve currency in the world behind only the US dollar, euro, Japanese yen, and British pound.The CAD is commonly referred to as the Loonie by forex analysts and traders. At the time of writing, the CAD accounts for 2% of all global currency reserves.Its appeal is strong among central banking authorities given Canada’s economic strength, sovereignty, and historic stability.Originally i The Canadian dollar (CAD) is the official currency of Canada and at the time of writing is the fifth most-held reserve currency in the world behind only the US dollar, euro, Japanese yen, and British pound.The CAD is commonly referred to as the Loonie by forex analysts and traders. At the time of writing, the CAD accounts for 2% of all global currency reserves.Its appeal is strong among central banking authorities given Canada’s economic strength, sovereignty, and historic stability.Originally i Read this Term time):

• we have a long way to go to get inflation back to target

And, the knives are out for the housing sector says Rogers:

• we need lower house prices to restore balance to housing market

We can expect more of the same from Macklem and Rogers at this testimony.

Earlier

• BoC Gov Maclem says expects policy rate will need to rise further

More now;

• There is a risk that 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 in Canada is more embedded, more entrenched; also some possibilities that inflation could come down faster

• Expecting to see businesses pass on input price decreases as quickly to consumers as they did with increases on the way up

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OK, that first comment - I get it , he has no idea and I'd suggest no one does.

That second comment though. There is NO WAY business will cut prices as quick as they raised them. If Gov. M believes this he is naive and should find a competent replacement ASAP. Sheesh. Has this guy ever been in the private sector?