{"id":11066,"date":"2023-04-14T18:41:43","date_gmt":"2023-04-14T18:41:43","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/bank-of-canada-discussed\/"},"modified":"2023-04-14T18:43:43","modified_gmt":"2023-04-14T18:43:43","slug":"bank-of-canada-discussed","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/bank-of-canada-discussed\/","title":{"rendered":"Bank of Canada discussed raising rates at latest policy meeting -governor"},"content":{"rendered":"<p>(Reuters) &#8211;     The governing council of the Bank of Canada discussed raising interest rates at its policy meeting earlier this week before deciding to leave them on hold, the central bank&#8217;s governor, Tiff Macklem, said on Friday.<\/p>\n<p>Asked whether any council members were in favor of hiking rates at the meeting, Macklem said: &#8220;When I say that we&#8217;ve discussed whether we&#8217;ve done enough, that does imply that one of the things we discussed is whether we need to raise rates.&#8221;<\/p>\n<p>Macklem spoke to reporters from Washington where he was attending the annual International Monetary Fund meetings.<\/p>\n<p>On Wednesday, the Canadian central bank kept its benchmark interest rate at 4.50%, as expected, but struck a hawkish tone, playing down market expectations for a rate cut this year as the risk of a recession diminished.<\/p>\n<p>Macklem reiterated on Friday that interest rates may need to stay &#8220;higher for longer&#8221; to get inflation back to the central bank&#8217;s 2% target.<\/p>\n<p>Asked about quantitative tightening, Macklem said rate cuts would not be a barrier to shrinking the central bank&#8217;s balance sheet so long as the purpose was to normalize rates, or move them closer to a neutral setting, rather than stimulate the economy.<\/p>\n<p>The central bank estimates the neutral interest rate &#8212; one that neither stimulates nor constrains the economy &#8212; to be a range between 2% and 3%.<\/p>\n<p \/>\n<p> (Reporting by Steve Scherer and Fergal Smith; Editing by Chris Reese and Leslie Adler)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/bank-of-canada-discussed\/bank-of-canada-governor-tiff-macklem-takes-part-in-a-2\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3D0QU-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3D0QU-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) &#8211; The governing council of the Bank of Canada discussed raising interest rates at its policy meeting earlier this week before deciding to leave them on hold, the central bank&#8217;s governor, Tiff Macklem, said on Friday. Asked whether any council members were in favor of hiking rates at the meeting, Macklem said: &#8220;When I [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":11067,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[],"class_list":["post-11066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3D0QU-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/11066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=11066"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/11066\/revisions"}],"predecessor-version":[{"id":11068,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/11066\/revisions\/11068"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/11067"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=11066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=11066"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=11066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}