Bank of Canada Governor Sounds in No Rush to Ease, Notes Scotiabank

MT Newswires05-02

After the dust had settled on what the United States Federal Reserve had done on Wednesday, Bank of Canada (BoC) Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers began testimony before ...

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That reinforces Scotiabank's expectation for easing no earlier than the July or September meetings, though it's aware of the need to evaluate incoming data.Key in this regard are the following passages toward the end:. \"Overall, the data since January have increased our confidence that inflation will continue to come down gradually even as economic activity strengthens. Our key indicators of inflation have all moved in the right direction and recent data point to a pickup in economic growth.\". Investors will get one more inflation report before the June policy meeting, but the \"months ahead\" reference seems to Scotiabank like the","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BNS":"丰业银行","BK4207":"综合性银行"},"translate_title":"加拿大丰业银行指出，加拿大央行行长听起来并不急于放松","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BNS":0.9},"content_text":"After the dust had settled on what the United States Federal Reserve had done on Wednesday, Bank of Canada (BoC) Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers began testimony before a parliamentary committee in Ottawa, noted Scotiabank. \n\n The opening statement didn't sound \"amenable\" to cutting the policy rate as soon as the June meeting to the bank. That reinforces Scotiabank's expectation for easing no earlier than the July or September meetings, though it's aware of the need to evaluate incoming data.\n\n Key in this regard are the following passages toward the end:\n\n \"Overall, the data since January have increased our confidence that inflation will continue to come down gradually even as economic activity strengthens. Our key indicators of inflation have all moved in the right direction and recent data point to a pickup in economic growth.\"\n\n \"I realize that what most Canadians want to know is when we will lower our policy interest rate. What do we need to see to be convinced it's time to cut? The short answer is we are getting closer. We are seeing what we need to see, but we need to see it for longer to be confident that progress toward price stability will be sustained.\"\n\n \"In the months ahead, we will be closely watching the evolution of core inflation. We remain focused on the balance between demand and supply in the economy, inflation expectations, wage growth and corporate pricing behaviour as indicators of where inflation is headed.\"\n\n \"To conclude, we've come a long way in the fight against inflation, and recent progress is encouraging. 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