Initial comments from the BOC Governor:
- He's struck by how much progress the economy has made since the start of the pandemic
- Could take some time to work through issues in labor market
- It is our job to get inflation back to target and I assure we will do that
- How long bond reinvestment phase lasts is a future decision. It is reasonable to expect that we will be there for a period of time, at least until we raise our policy interest rate
- So far, measures of medium- to longer-term inflation expectations remain well anchored on the 2 percent target
- Overall wage pressures remain moderate
- Full statement
There's nothing market moving so far.
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