Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers are appearing before the Senate Standing Committee on Banking, Trade and Commerce.

Macklem:

  • reiterates that it'd be extremely unusual to hike by more than 50bp in one move
  • says Bank may have to raise rates above neutral, to a bit above 2% ro 3%

Earlier:

So far lots of reiterating from Mac - that is, not anything new.

macklem