BOC Macklem:We are not forecasting a recession nor think we need one to get inflation down

We are not forecasting a deep recession
We don't need to think that we need to get a recession to get inflation back to target
Inflation is still somewhat broad-based. That we become the persistence of underlying inflation.
It's important that we don't give Canadians a false sense of precision as regards to timing of a rate cut
Risk of a rate hike is not at 0%, but raising rates is not the base case
We are at a point where there is a lot of push and pull. There are mixed signals. When have confidence we will open the door toward easing policy.

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