Earlier:
- Bank of Canada hikes rates by 50 basis points to 1.00%
- Macklem opening statement: 'We need higher rates and the economy can handle them'
- Macklem Q&A: We are prepared to move as forefully as needed to get inflation on target
Macklem:
- Central banks will not allow stagflation to take hold
Yeah, like inflation was transitory (it will be, but the earth is due to plunge into the sun a few bn years too). Central bankers, not just Macklem, are full of it.
