The #bankofcanada says this about the future of rate hikes, no longer a vertical line up perhaps... "As the effects of tighter monetary policy work through the economy, we will be assessing how much higher interest rates need to go to return inflation to target."
But they also suggest again the inflation fight is a long one: "The Governing Council remains resolute in its commitment to price stability and will continue to take action as required to achieve the 2% inflation target."
And this: "The Bank’s core measures of inflation continued to move up, ranging from 5% to 5.5% in July. Surveys suggest that short-term inflation expectations remain high. The longer this continues, the greater the risk that elevated inflation becomes entrenched."
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