Bank of Canada's Macklem: Inflation is continuing to become less broad-based
The Bank of Canada's Macklem is on the wires saying:At first glance, federal budget does not really change fiscal track since the Nov 2023 fall economic statementBudget contains spending measures and new taxes; federal government's commitment to stick to fiscal guard rails is helpfulReiterates bank will be looking for evidence that the recent downward momentum in inflation is sustainedCanadian inflation is continuing to become less broad-based; things are moving in the right directionOverall we see downside risks to the inflation outlook are lower than they wereThere are some signs of stress in household finance, mostly in non-mortgage holders; delinquencies have moved up but they are not at alarming levelsGeopolitical tensions are a source of deep concern in the international communityIf there is a spike in oil prices that is something we'll have to take into account This article was written by Greg Michalowski at www.forexlive.com.
The Bank of Canada's Macklem is on the wires saying:
- At first glance, federal budget does not really change fiscal track since the Nov 2023 fall economic statement
- Budget contains spending measures and new taxes; federal government's commitment to stick to fiscal guard rails is helpful
- Reiterates bank will be looking for evidence that the recent downward momentum in inflation is sustained
- Canadian inflation is continuing to become less broad-based; things are moving in the right direction
- Overall we see downside risks to the inflation outlook are lower than they were
- There are some signs of stress in household finance, mostly in non-mortgage holders; delinquencies have moved up but they are not at alarming levels
- Geopolitical tensions are a source of deep concern in the international community
- If there is a spike in oil prices that is something we'll have to take into account
