BoC Macklem - more: Inflation measures have stopped rising rapidly but not yet dropped

More from Bank of Canada Governor Macklem

• says that the indicators of inflation watched by the Bank of Canada have stopped rising rapidly but have not yet begun to decline
• there is a risk that everyone tightening at the same time might have a stronger impact than if its only Canada, or the US, doing it
• this is something we do take into account when we conduct our analysis
• the effect of monetary tightening on an international basis is not leading to huge issues
• we've certainly seen higher inflation, we've seen wages move up, I would not say we've seen a wage spiral so far
• I do think we have seen some danger signs in the economy, firms have very rapidly passed through higher prices to consumers

Macklem is adding to the Bank of Canada change in tone. See his earlier comments (link below). The BoC is not too far from ending its hiking cycle.

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Earlier:

BOC Macklem says expects to hike rates even further

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