Central Banks
Macklem Sees Bank of Canada Cutting Rates Sometime in 2024
- Officials must see sustained easing of core inflation first
- Comments among his first outlining a rough timeline for cuts
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Bank of Canada Governor Tiff Macklem said he expects to start cutting interest rates next year but needs to see several months of sustained downward momentum in core inflation first.
“I think it is sometime in 2024,” Macklem told BNN Bloomberg Television, when asked when he sees the central bank lowering its benchmark overnight rate.