“You do have to be forward looking,” Macklem said when asked for guidance on when he might start cutting interest rates, given mounting evidence that economic growth is slowing and last year’s sharp increase will inevitably hurt mortgage holders. “We’re looking for that sweet spot.”at 4.5 per cent, which is four percentage points higher than it was this time a year ago.
in March, and while policymakers are confident it will slow to three per cent by the summer, Macklem told an audience assembled by the Greater Toronto Board of Trade that he’s worried inflation could then get stuck there.Article content The value of exports fell 0.7 per cent to $63.6 billion, the lowest since February 2022, mostly because of lower energy prices. Because the decline in imports was bigger, Canada recorded a trade surplus of about $922 million in March after recording a deficit the previous month, Statistics Canada said.National Bank economist Jocelyn Pacquet observed in a note that Statistics Canada’s advance estimate of retail sales in March is for a drop of 1.4 per cent.
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