Bank of Canada Governor Tiff Macklem said on Sunday that he has opened the door to accelerating the pace of interest rate reductions. Macklem further stated that policymakers could switch to 50 basis point (bps) moves should growth disappoint, per the Financial Times.
Key quotes
As you get closer to the target, your risk management calculus changes.
You become more concerned about the downside risks. And the labour market is pointing to some downside risks.
It could be appropriate to move faster interest rates.
We expect to see rent price inflation come down.
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