BoC Gov Macklem says economic recovery is make good progress
Bank of Canada Governor Macklem speaking to an upper house committee in the Canadian parliament. Via video conference.
Senate Committee on Banking, Trade and Commerce
Remarks, Headlines via Reuters
- Following a sharp bounce back in economic activity in the fall and winter, we’ve seen choppiness in growth again in Q2
- complete recovery will still take some time
- third wave of the virus has been a setback
- overall, we expect the housing market to be better balanced, but we will continue to watch it closely
- timing of 2% inflation target is unusually uncertain
- further adjustments to our QE program will be gradual, and we will be deliberate in both our assessment of incoming data and the communication of our analysis
As I post CAD is doing basically nothing on all this.