Bank of Canada Governor Macklem says the Bank expects strong consumption-led growth in the second half of 2021
- admits there is considerable uncertainty around the BoC's estimate of potential output
- paying attention to a broad range of indicators of slack in the economy, including measures of the labour market
The Gov. is appearing before a parliamentary committee.
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The BoC surprised last week with a hawkish-leaning outlook. The Bank is looking at an earlier than expected taper of super-easy policy: