BoC’s Macklem: We are prepared to hike rates if inflation persists above 2% target
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The Bank of Canada´s Governor Tiff Macklem said in a prepared speech at the Toronto Region Board of Trade that if they start to see signs that inflation is likely to get stuck materially above their 2% target, they are prepared to raise interest rates further. The BoC decided to pause interest rate hikes in March.
The USD/CAD is trading at weekly lows, under 1.3530 on Thursday, with the Canadian dollar outperforming during the American session.
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