Bank of Canada Governor Macklem spoke on Tuesday, CAD time:
Interviewed on Bloomberg, so more from him now:
- Flags debt load in explaining early rate pause
- Says rate hikes have hit homeowners hard
- Central bank needs time to gauge how households, businesses adapting to higher rates before it makes further moves
- Real estate market will probably soften further before it stabilises later this year
- On duration of rate pause says “we can’t put it on a calendar. We don’t know how long it’s going be.”
