Governor of the Bank of Canada, Tiff Macklem, and Senior Deputy Governor Carolyn Rogers appearing before the Standing Senate Committee on Banking, Commerce and the Economy.
Earlier:
Right after this post the you-know-what hit the fan in the yen, which meant Macklem went on the back burner.
But, he is laying the groundwork for a Bank of Canada rate cut real soon. Check out that link above for his earlier none too subtle hints. More now:
- We don't have to do what the fed does
- Canada growth this year will probably be choppy
- A cut in rates would signal we're on a track back to 2% inflation
- Jobless rate might go up but we don't see a recession
