Bank of Canada Says Rates Can Fall Before Inflation Hits 2% If Outlook Warrants It

10/26/2023 06:00
Bank of Canada Says Rates Can Fall Before Inflation Hits 2% If Outlook Warrants It

A top Bank of Canada official said the central bank has the flexibility to lower interest rates before inflation reaches the 2% target.

A top Bank of Canada official said the central bank has the flexibility to lower interest rates before inflation reaches the 2% target.

Senior Deputy Governor Carolyn Rogers told Bloomberg through a spokesperson that Canada’s benchmark overnight rate could decline from its current level before inflation is completely back to target if the outlook suggested that less-restrictive policy would be enough to get inflation to 2%.

Read more --->