Comments from Bank of Canada governor Macklem:
- We're watching housing market developments very closely, welcomes recently announced regulator changes
- Notes higher investment intentions from Canadian businesses
- Further adjustments to QE program will be gradual
- Inflation will return to 2% durably in late 2022 and 2023
- We remain committed to holding rates until economic slack is absorbed...based on current forecasts, that's some time in 2022
In central bank talk, Macklem is saying the plan is to hike rates in 2022. He didn't offer anything to try to jawbone the loonie or engineer some kind of dovish taper.
