Bank of Canada Governor Tiff Macklem and Senior Deputy Carolyn Rogers appear before the House of Commons Standing Committee on Finance

We heard from Rogers on Tuesday (local CAD time):

And, the knives are out for the housing sector says Rogers:

  • we need lower house prices to restore balance to housing market

We can expect more of the same from Macklem and Rogers at this testimony.


More now;

  • Expecting to see businesses pass on input price decreases as quickly to consumers as they did with increases on the way up


OK, that first comment - I get it , he has no idea and I'd suggest no one does.

That second comment though. There is NO WAY business will cut prices as quick as they raised them. If Gov. M believes this he is naive and should find a competent replacement ASAP. Sheesh. Has this guy ever been in the private sector?

BOC Macklem meme