{"id":41037,"date":"2023-11-22T16:57:21","date_gmt":"2023-11-22T16:57:21","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/11\/22\/bank-of-canadas-tiff-macklem-says-interest-rate-hikes-may-be-over\/"},"modified":"2023-11-22T16:57:21","modified_gmt":"2023-11-22T16:57:21","slug":"bank-of-canadas-tiff-macklem-says-interest-rate-hikes-may-be-over","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/11\/22\/bank-of-canadas-tiff-macklem-says-interest-rate-hikes-may-be-over\/","title":{"rendered":"Bank of Canada&#8217;s Tiff Macklem says interest rate hikes may be over"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<li class=\"breadcrumbs__item\">Economy<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">&#8216;Interest rates may now be restrictive enough to get us back to price stability&#8217;<\/p>\n<div class=\"article-meta\">\n<div class=\"wire-published-by\">\n<p class=\"visually-hidden\">Author of the article:<\/p>\n<p><\/p>\n<div class=\"wire-published-by__author-container\">\n<p>Bloomberg News<\/p>\n<p>Erik Hertzberg and Randy Thanthong-Knight<\/p>\n<\/div>\n<\/div>\n<p><span class=\"published-date__since\">Published Nov 22, 2023<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 17\u00a0hours ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">3 minute read<\/span><\/p>\n<\/p><\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/bank-of-canada-tiff-macklem-vw1122.jpg?quality=90&strip=all&w=288&h=216&sig=-Hmc3Xt1uoaUK7AgweR4uw&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/bank-of-canada-tiff-macklem-vw1122.jpg?quality=90&strip=all&w=288&h=216&sig=-Hmc3Xt1uoaUK7AgweR4uw&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/bank-of-canada-tiff-macklem-vw1122.jpg?quality=90&strip=all&w=288&h=216&sig=-Hmc3Xt1uoaUK7AgweR4uw&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/bank-of-canada-tiff-macklem-vw1122.jpg?quality=90&strip=all&w=288&h=216&sig=-Hmc3Xt1uoaUK7AgweR4uw&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/bank-of-canada-tiff-macklem-vw1122.jpg?quality=90&strip=all&w=288&h=216&sig=-Hmc3Xt1uoaUK7AgweR4uw&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/bank-of-canada-tiff-macklem-vw1122.jpg?quality=90&strip=all&w=288&h=216&sig=-Hmc3Xt1uoaUK7AgweR4uw&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/bank-of-canada-tiff-macklem-vw1122.jpg?quality=90&strip=all&w=288&h=216&sig=-Hmc3Xt1uoaUK7AgweR4uw&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/bank-of-canada-tiff-macklem-vw1122.jpg?quality=90&strip=all&w=288&h=216&sig=-Hmc3Xt1uoaUK7AgweR4uw&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/bank-of-canada-tiff-macklem-vw1122.jpg?quality=90&strip=all&w=288&h=216&sig=-Hmc3Xt1uoaUK7AgweR4uw&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/bank-of-canada-tiff-macklem-vw1122.jpg?quality=90&strip=all&w=288&h=216&sig=-Hmc3Xt1uoaUK7AgweR4uw&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/bank-of-canada-tiff-macklem-vw1122.jpg?quality=90&strip=all&w=288&h=216&sig=-Hmc3Xt1uoaUK7AgweR4uw&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Bank of Canada governor Tiff Macklem says the bank's fight to tame inflation may be over.\" class=\"featured-image__image type:primaryImage\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/bank-of-canada-tiff-macklem-vw1122.jpg?quality=90&strip=all&w=288&h=216&sig=-Hmc3Xt1uoaUK7AgweR4uw&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/bank-of-canada-tiff-macklem-vw1122.jpg?quality=90&strip=all&w=288&h=216&sig=-Hmc3Xt1uoaUK7AgweR4uw,\n                    https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/bank-of-canada-tiff-macklem-vw1122.jpg?quality=90&strip=all&w=576&h=432&sig=G2J9yZo6Za_aQvFswILCpA 2x\" height=\"750\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Bank of Canada governor Tiff Macklem says the bank&#8217;s fight to tame inflation may be over.<\/span> <span class=\"credit\">Photo by David Kawai\/Bloomberg<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">Bank of Canada governor Tiff Macklem said policymakers may have done enough to tame inflation, reinforcing market and economist expectations that short-term rates have peaked.<\/p>\n<p>In his first speech since leaving the bank\u2019s overnight rate unchanged at five per cent in October, Macklem said the economy is expected to remain weak for the next few quarters, which means \u201cmore downward pressure on inflation is in the pipeline.\u201d<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment3243355406185309407621246837850112\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<div class=\"article-block article-block-bg article-content__sign-in-group hidden\" data-aqa=\"identity-sign-in\" data-async=\"\" id=\"article-block\">\n<section class=\"row\">\n<header class=\"identity-intro col-xs-12 col-md-6 flex-justify-center\">\n<div class=\"col-xs-12 col-sm-10 col-md-10\"><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/identity\/logo-identity-fp.svg 75w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/identity\/logo-identity-fp.svg 100w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/identity\/logo-identity-fp.svg 150w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/identity\/logo-identity-fp.svg 240w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/identity\/logo-identity-fp.svg 320w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/identity\/logo-identity-fp.svg 500w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/identity\/logo-identity-fp.svg 640w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/identity\/logo-identity-fp.svg 800w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/identity\/logo-identity-fp.svg 1024w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/identity\/logo-identity-fp.svg 1280w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/identity\/logo-identity-fp.svg 1600w\" alt=\"Financial Post\" class=\"market-logo\" height=\"37\" fifu-data-src=\"https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/identity\/logo-identity-fp.svg\" width=\"280\"\/><\/p>\n<div class=\"intro-body__premium hidden\">\n<p>THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\n<p class=\"identity-intro__description\">Subscribe now to read the latest news in your city and across Canada.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Exclusive articles from Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman, Victoria Wells and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__register hidden\">\n<p>SUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Subscribe now to read the latest news in your city and across Canada.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Exclusive articles from Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman, Victoria Wells and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__anonymous\">\n<p>REGISTER TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cThis tightening of monetary policy is working, and interest rates may now be restrictive enough to get us back to price stability,\u201d he said, reiterating the central bank is prepared to raise rates again \u201cif high inflation persists.\u201d Bonds rallied after the release of the speech text, taking the yield on the Canada two-year note down to about 4.4 per cent.<\/p>\n<p data-async=\"\">Macklem\u2019s remarks came a day after the latest data showed consumer prices rose 3.1 per cent in October over a year earlier, the slowest pace since June. A key metric for underlying inflation pressures that policymakers are closely tracking also slowed to below three per cent.<\/p>\n<p>His comments suggest the Bank of Canada has more confidence that inflation will continue to decelerate as the economy slows, allowing policymakers to keep rates steady. Officials are expected to hold again when they next set rates in two weeks, and markets and economists see the central bank easing monetary policy by mid-2024.<\/p>\n<p>\u201cThe economy is approaching balance,\u201d Macklem said Wednesday in Saint John, New Brunswick.<\/p>\n<p>Importantly, Macklem suggested Canada\u2019s weakening economy points to a normalization of corporate pricing behavior, a key inflation risk the central bank says it\u2019s closely watching.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot17 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-headlinenews background--primary-light-gradient\" aria-labelledby=\"FinancialPostTopStories2190174473002175483197157418205184\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_HeadlineNews\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 75w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 100w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 150w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 240w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 320w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 500w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 640w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 800w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 1024w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 1280w, https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 1600w\" alt=\"Top Stories\" loading=\"lazy\" fifu-data-src=\"https:\/\/dcs-static.gprod.postmedia.digital\/14.9.2\/websites\/images\/newsletters\/icon-fp-topStories.svg\"\/><\/div>\n<div>\n<p>Top Stories<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Get the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_HeadlineNews\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_HeadlineNews\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment101020178890822709556451146203136\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cThe excess demand in the economy that made it too easy to raise prices is now gone.\u201d<\/p>\n<h2>\u2018Common enemy\u2019<\/h2>\n<p>Still, wage growth and short-term inflation expectations remain primary concerns.<\/p>\n<p>\u201cWe want to see expectations decline to be reassured we are headed back to our two per cent target,\u201d he said. \u201cWith higher inflation in the last couple of years, we\u2019re seeing more strikes as employers and workers struggle to reconcile rising costs on each side.\u201d<\/p>\n<p>Economists expect wage growth and expectations to normalize in coming months. Last month, wage growth slowed to five per cent, while the jobless rate rose to 5.7 per cent as population gains outpaced employment growth.<\/p>\n<p>\u201cThe past two years have been a painful reminder of how much high inflation hurts households, businesses and communities,\u201d he said. \u201cIt\u2019s our common enemy. We want to see high inflation defeated.\u201d<\/p>\n<p>In a briefing following his speech, the governor said Prime Minister Justin Trudeau\u2019s government didn\u2019t significantly change the deficits projected for the current and next fiscal years when they updated their budget on Tuesday, which Macklem said would be \u201chelpful as we work to get inflation down over next year and into 2025.\u201d<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment4991245273075041085329358647721984\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<section aria-labelledby=\"moreTopicLabel9367750608395974319213723969912832\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Related Stories<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li class=\"more-topic__item\" data-carousel-item=\"\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/bank-of-canda-rate-cut-vw1122.jpg?h=96&strip=all&quality=5&sig=iZ-joIMII2gM9NzMCFzCdg&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/bank-of-canda-rate-cut-vw1122.jpg?h=96&strip=all&quality=5&sig=iZ-joIMII2gM9NzMCFzCdg&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/bank-of-canda-rate-cut-vw1122.jpg?h=96&strip=all&quality=5&sig=iZ-joIMII2gM9NzMCFzCdg&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/bank-of-canda-rate-cut-vw1122.jpg?h=96&strip=all&quality=5&sig=iZ-joIMII2gM9NzMCFzCdg&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/bank-of-canda-rate-cut-vw1122.jpg?h=96&strip=all&quality=5&sig=iZ-joIMII2gM9NzMCFzCdg&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/bank-of-canda-rate-cut-vw1122.jpg?h=96&strip=all&quality=5&sig=iZ-joIMII2gM9NzMCFzCdg&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/bank-of-canda-rate-cut-vw1122.jpg?h=96&strip=all&quality=5&sig=iZ-joIMII2gM9NzMCFzCdg&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/bank-of-canda-rate-cut-vw1122.jpg?h=96&strip=all&quality=5&sig=iZ-joIMII2gM9NzMCFzCdg&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/bank-of-canda-rate-cut-vw1122.jpg?h=96&strip=all&quality=5&sig=iZ-joIMII2gM9NzMCFzCdg&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/bank-of-canda-rate-cut-vw1122.jpg?h=96&strip=all&quality=5&sig=iZ-joIMII2gM9NzMCFzCdg&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/bank-of-canda-rate-cut-vw1122.jpg?h=96&strip=all&quality=5&sig=iZ-joIMII2gM9NzMCFzCdg&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"People walk past the Bank of Canada building in Ottawa. Desjardins economists expect the central bank to cut interest rates in the second quarter of 2024.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/bank-of-canda-rate-cut-vw1122.jpg?h=96&strip=all&quality=80&sig=SzV7ubI2iLC7R0S9rC4B0A\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/bank-of-canda-rate-cut-vw1122.jpg?h=96&strip=all&quality=5&sig=iZ-joIMII2gM9NzMCFzCdg&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/bank-of-canda-rate-cut-vw1122.jpg?h=96&strip=all&quality=80&sig=SzV7ubI2iLC7R0S9rC4B0A, https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/bank-of-canda-rate-cut-vw1122.jpg?h=192&strip=all&quality=80&sig=bqkU9y4_t1hClTrIM9lMqw 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/bank-of-canda-rate-cut-vw1122.jpg?h=288&strip=all&quality=80&sig=nzwbe7MvgG98AafNqkID5A 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Here&#8217;s what it will take for the Bank of Canada to cut rates<\/span><\/p>\n<\/li>\n<li class=\"more-topic__item\" data-carousel-item=\"\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/inflation-1121-ph.jpg?h=96&strip=all&quality=80&sig=moiFSvtDWXiwgfos6xP0SQ&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/inflation-1121-ph.jpg?h=96&strip=all&quality=80&sig=moiFSvtDWXiwgfos6xP0SQ&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/inflation-1121-ph.jpg?h=96&strip=all&quality=80&sig=moiFSvtDWXiwgfos6xP0SQ&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/inflation-1121-ph.jpg?h=96&strip=all&quality=80&sig=moiFSvtDWXiwgfos6xP0SQ&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/inflation-1121-ph.jpg?h=96&strip=all&quality=80&sig=moiFSvtDWXiwgfos6xP0SQ&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/inflation-1121-ph.jpg?h=96&strip=all&quality=80&sig=moiFSvtDWXiwgfos6xP0SQ&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/inflation-1121-ph.jpg?h=96&strip=all&quality=80&sig=moiFSvtDWXiwgfos6xP0SQ&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/inflation-1121-ph.jpg?h=96&strip=all&quality=80&sig=moiFSvtDWXiwgfos6xP0SQ&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/inflation-1121-ph.jpg?h=96&strip=all&quality=80&sig=moiFSvtDWXiwgfos6xP0SQ&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/inflation-1121-ph.jpg?h=96&strip=all&quality=80&sig=moiFSvtDWXiwgfos6xP0SQ&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/inflation-1121-ph.jpg?h=96&strip=all&quality=80&sig=moiFSvtDWXiwgfos6xP0SQ&ssl=1&w=1600&resize=1600&ssl=1 1600w\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/inflation-1121-ph.jpg?h=96&strip=all&quality=80&sig=moiFSvtDWXiwgfos6xP0SQ&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/inflation-1121-ph.jpg?h=96&strip=all&quality=80&sig=moiFSvtDWXiwgfos6xP0SQ, https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/inflation-1121-ph.jpg?h=192&strip=all&quality=80&sig=5yOWHpQhnYOGQg6rJ2ADQw 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/inflation-1121-ph.jpg?h=288&strip=all&quality=80&sig=c-1Q0waTHO_OJ0kGfHl6Kw 3x\" alt=\"inflation\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Cooling inflation raises odds of Bank of Canada interest rate hold<\/span><\/p>\n<\/li>\n<li class=\"more-topic__item\" data-carousel-item=\"\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/housing-slump-1114-ph.jpg?h=96&strip=all&quality=80&sig=mFNLmdoxuI1cBpB5rNVBwA&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/housing-slump-1114-ph.jpg?h=96&strip=all&quality=80&sig=mFNLmdoxuI1cBpB5rNVBwA&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/housing-slump-1114-ph.jpg?h=96&strip=all&quality=80&sig=mFNLmdoxuI1cBpB5rNVBwA&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/housing-slump-1114-ph.jpg?h=96&strip=all&quality=80&sig=mFNLmdoxuI1cBpB5rNVBwA&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/housing-slump-1114-ph.jpg?h=96&strip=all&quality=80&sig=mFNLmdoxuI1cBpB5rNVBwA&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/housing-slump-1114-ph.jpg?h=96&strip=all&quality=80&sig=mFNLmdoxuI1cBpB5rNVBwA&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/housing-slump-1114-ph.jpg?h=96&strip=all&quality=80&sig=mFNLmdoxuI1cBpB5rNVBwA&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/housing-slump-1114-ph.jpg?h=96&strip=all&quality=80&sig=mFNLmdoxuI1cBpB5rNVBwA&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/housing-slump-1114-ph.jpg?h=96&strip=all&quality=80&sig=mFNLmdoxuI1cBpB5rNVBwA&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/housing-slump-1114-ph.jpg?h=96&strip=all&quality=80&sig=mFNLmdoxuI1cBpB5rNVBwA&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/housing-slump-1114-ph.jpg?h=96&strip=all&quality=80&sig=mFNLmdoxuI1cBpB5rNVBwA&ssl=1&w=1600&resize=1600&ssl=1 1600w\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/housing-slump-1114-ph.jpg?h=96&strip=all&quality=80&sig=mFNLmdoxuI1cBpB5rNVBwA&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/housing-slump-1114-ph.jpg?h=96&strip=all&quality=80&sig=mFNLmdoxuI1cBpB5rNVBwA, https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/housing-slump-1114-ph.jpg?h=192&strip=all&quality=80&sig=hJTHsiF9ixYG0TEJlBsiFw 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2023\/11\/housing-slump-1114-ph.jpg?h=288&strip=all&quality=80&sig=2NZG1YRFes9MTdZYprTt5Q 3x\" alt=\"housing\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Canada&#8217;s menacing mortgage math means crisis looming<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>Responding to a question about a split in opinion among policymakers over whether to hold or raise rates on October 25, Macklem said while there was a discussion of a possible hike, all members agreed to keep borrowing costs unchanged.<\/p>\n<p>Macklem reiterated it\u2019s still too early to think about rate cuts, and that policymakers still need to see clear evidence inflation is sustainably on a path toward the target before they consider cutting borrowing costs.<\/p>\n<p data-async=\"\"><em>Bloomberg.com<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Bank of Canada&#8217;s Tiff Macklem says interest rate hikes may be over<\/a><br \/>\n<br \/>2023-11-22 16:57:21<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Economy &#8216;Interest rates may now be restrictive enough to get us back to price stability&#8217; Author of the article: Bloomberg News Erik Hertzberg and Randy Thanthong-Knight&#8230;<\/p>\n","protected":false},"author":2,"featured_media":41038,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/secure.gravatar.com\/avatar\/2c61c569c35df1bfebdf8601ae03b90f?s=70&d=mp","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-41037","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/41037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=41037"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/41037\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/41038"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=41037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=41037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=41037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}