More from BoC Gov. Macklem - inflation could be entrenched, or it might come down faster

Bank of Canada Governor Tiff Macklem and Senior Deputy Carolyn Rogers appear before the House of Commons Standing Committee on Finance

We heard from Rogers on Tuesday (local CAD time):

• we have a long way to go to get inflation back to target

And, the knives are out for the housing sector says Rogers:

• we need lower house prices to restore balance to housing market

We can expect more of the same from Macklem and Rogers at this testimony.

Earlier

• BoC Gov Maclem says expects policy rate will need to rise further

More now;

• There is a risk that inflation in Canada is more embedded, more entrenched; also some possibilities that inflation could come down faster

• Expecting to see businesses pass on input price decreases as quickly to consumers as they did with increases on the way up

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OK, that first comment - I get it , he has no idea and I'd suggest no one does.

That second comment though. There is NO WAY business will cut prices as quick as they raised them. If Gov. M believes this he is naive and should find a competent replacement ASAP. Sheesh. Has this guy ever been in the private sector?