Macklem Q&A: Expects to see growth near-zero for the next few quarters

• We're seeing signs of a significant slowdown
• By front-loading rates, we're trying to avoid even-higher rates down the road
• We needed a bigger-than-normal step and 50 bps is still a large hike
• We're seeing clearer evidence the economy is slowing
• We continue to believe rates will rise further. That could be another larger-than-normal step or we could move to more-normal steps
• We are getting closer to the end of the line but we're not there yet
• We think rates need to go up further, we will determine the pace depending on developments

USD/CAD CAD The Canadian dollar (CAD) is the official currency of Canada and at the time of writing is the fifth most-held reserve currency in the world behind only the US dollar, euro, Japanese yen, and British pound.The CAD is commonly referred to as the Loonie by forex analysts and traders. At the time of writing, the CAD accounts for 2% of all global currency reserves.Its appeal is strong among central banking authorities given Canada’s economic strength, sovereignty, and historic stability.Originally i The Canadian dollar (CAD) is the official currency of Canada and at the time of writing is the fifth most-held reserve currency in the world behind only the US dollar, euro, Japanese yen, and British pound.The CAD is commonly referred to as the Loonie by forex analysts and traders. At the time of writing, the CAD accounts for 2% of all global currency reserves.Its appeal is strong among central banking authorities given Canada’s economic strength, sovereignty, and historic stability.Originally i Read this Term is down to 1.3551 from a high of 1.3650.