More from BOC Gov Macklem - need time to assess rate hike impact on households and firms

Bank of Canada Governor Macklem spoke on Tuesday, CAD time:

• BOC Macklem: More rates hikes will not be needed if inflation falls/econ develops as exp.

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.”