More from BOC Schembri: Consumption much softer than expected in Q2

Author: Greg Michalowski | Category: Central Banks

BOC starts press conference

He adds:
  • Canada consumption much softer than expected in Q2
  • Consumption-income disparity is bit of a puzzle
  • Raised question about deflator with StatsCan
  • Policy rates sufficient to offset global risks
  • Current policy rate provides sufficient stimulus
  • Policy stance consistent with 2 year inflation target
  • If excess supply occurs, then rate cut possible
  • Iressure on inflation, then it would consider a cut.
  • Canada's inflation is very well anchored at 2%
  • Says as the trade conflict between US – China drags on, hard to see an immediate resolution
  • Suggests tensions could remain at elevated level past US presidential election

USDCAD remains below resistance on the hourly chart.
ForexLive
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose