More from BOC's Macklem - says again it'd be extremely unusual to hike by more than 50bp

Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers are appearing before the Senate Standing Committee on Banking, Trade and Commerce.

Macklem:

• reiterates that it'd be extremely unusual to hike by more than 50bp in one move
• says Bank may have to raise rates above neutral, to a bit above 2% ro 3%

Earlier:

• Bank Of Canada Governor Macklem says again that higher interest rates are needed

So far lots of reiterating from Mac - that is, not anything new.