{"id":8773,"date":"2021-04-12T19:36:26","date_gmt":"2021-04-12T19:36:26","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/04\/12\/new-inflation-data-suggest-bank-of-canada-neednt-worry-about-raising-rates-anytime-soon\/"},"modified":"2021-04-12T19:36:26","modified_gmt":"2021-04-12T19:36:26","slug":"new-inflation-data-suggest-bank-of-canada-neednt-worry-about-raising-rates-anytime-soon","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/04\/12\/new-inflation-data-suggest-bank-of-canada-neednt-worry-about-raising-rates-anytime-soon\/","title":{"rendered":"New inflation data suggest Bank of Canada needn&#8217;t worry about raising rates anytime soon"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header\" wp_automatic_readability=\"26.735483870968\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\">\n<h2 class=\"visually-hidden\">Breadcrumb Trail Links<\/h2>\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<p class=\"article-subtitle\"> Kevin Carmichael: Evidence of calm from executives and households will embolden central bank to stick to current plans <\/p>\n<div class=\"article-meta\">\n<div class=\"published-by\">\n<p>Author of the article:<\/p>\n<p> <span class=\"published-by__author\">Kevin Carmichael<\/span> <\/div>\n<div class=\"published-date\">\n<p>Publishing date:<\/p>\n<p> <span class=\"published-date__since\">Apr 12, 2021<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">2\u00a0hours ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">4 minute read<\/span> \u00a0\u2022\u00a0 <span>  <span class=\"comment-bubble\"> <svg height=\"16px\" viewbox=\"0 0 24 24\" width=\"16px\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M4,0 C2.93914,0 1.921718,0.421428 1.171572,1.171572 C0.421428,1.921718 0,2.93914 0,4 L0,24 L3.846,20.158 L4,20.16 L20,20.16 C21.0608,20.16 22.0782,19.73858 22.8284,18.98842 C23.5786,18.23828 24,17.22086 24,16.16 L24,4 C24,2.93914 23.5786,1.921718 22.8284,1.171572 C22.0782,0.421428 21.0608,0 20,0 L4,0 Z M2,4 C2,3.46956 2.21072,2.96086 2.58578,2.58578 C2.96086,2.21072 3.46956,2 4,2 L20,2 C20.5304,2 21.0392,2.21072 21.4142,2.58578 C21.7892,2.96086 22,3.46956 22,4 L22,16.16 C22,16.69044 21.7892,17.19914 21.4142,17.57422 C21.0392,17.94928 20.5304,18.16 20,18.16 L4,18.16 L3.048,18.126 L2,19.174 L2,4 Z\"\/><\/svg><\/span> 5 Comments  <\/span> <\/div><\/div>\n<figure class=\"featured-image\"><picture class=\"featured-image__ratio featured-image-category__economy\"><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/vw0412macklem.jpg?quality=90&amp;strip=all&amp;w=564&amp;type=webp,&#10;            https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/vw0412macklem.jpg?quality=90&amp;strip=all&amp;w=1128&amp;type=webp 2x\" type=\"image\/webp\"\/><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/vw0412macklem.jpg?quality=90&amp;strip=all&amp;w=564&amp;type=jpg,&#10;            https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/vw0412macklem.jpg?quality=90&amp;strip=all&amp;w=1128&amp;type=jpg 2x\" type=\"image\/jpeg\"\/><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/vw0412macklem.jpg?quality=90&amp;strip=all&amp;w=472&amp;type=webp,&#10;            https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/vw0412macklem.jpg?quality=90&amp;strip=all&amp;w=944&amp;type=webp 2x\" type=\"image\/webp\"\/><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/vw0412macklem.jpg?quality=90&amp;strip=all&amp;w=472&amp;type=jpg,&#10;            https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/vw0412macklem.jpg?quality=90&amp;strip=all&amp;w=944&amp;type=jpg 2x\" type=\"image\/jpeg\"\/><source media=\"(max-width: 767px)\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/vw0412macklem.jpg?quality=90&amp;strip=all&amp;w=288&amp;type=webp,&#10;            https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/vw0412macklem.jpg?quality=90&amp;strip=all&amp;w=576&amp;type=webp 2x\" type=\"image\/webp\"\/><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Bank of Canada Governor Tiff Macklem.<\/span> <span class=\"credit\">Photo by Adrian Wyld\/Canadian Press\/Bloomberg files<\/span> <\/figcaption><\/figure>\n<\/header>\n<section class=\"article-content__content-group\" wp_automatic_readability=\"48.352307692308\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>Inflation may still be a theoretical concern, but not a real one, as Canada\u2019s latest housing mania and surging commodity prices haven\u2019t dislodged expectations that the central bank will keep prices under control.<\/p>\n<p data-async=\"\">According to a Canadian Chamber of Commerce survey of 15,400 employers in January and February, only 14 per cent of companies planned to raise prices over the next three months, despite rampant anecdotal evidence of rising costs for inputs such as lumber, shipping containers and even pallets.<\/p>\n<p data-async=\"\">That aligns with Statistics Canada\u2019s latest inflation readings. The agency on April 12 reported that its \u201cadjusted\u201d Consumer Price Index rose 1.5 per cent in February from a year earlier, faster than the official CPI, but still well below the Bank of Canada\u2019s target of two per cent.<\/p>\n<p data-async=\"\">\u201cOverall, inflation has not become a bigger concern for Canadians, and the pandemic has not dramatically changed consumers\u2019 views on inflation,\u201d the central bank said in its latest quarterly survey of consumer expectations, also published April 12.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-1\" wp_automatic_readability=\"6.5\">\n<div class=\"ad__placeholder\" wp_automatic_readability=\"8\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group\" wp_automatic_readability=\"71.5\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>That\u2019s an important conclusion. Inflation can be a self-fulfilling prophecy. If households and executives anticipate higher costs, they will demand higher prices for goods, services and labour. The central bank would have to break that cycle by raising interest rates, even if it thought the economy still could benefit from further support.<\/p>\n<p>Evidence of calm in the face of extraordinarily low interest rates and historic government spending levels will embolden Bank of Canada Governor Tiff Macklem and his deputies to stick to their current plans, which could involve slowing the pace of bond purchases later this spring, but still maintaining plenty of stimulus for the foreseeable future.<\/p>\n<blockquote wp_automatic_readability=\"8\">\n<p>Overall, inflation has not become a bigger concern for Canadians, and the pandemic has not dramatically changed consumers\u2019 views on inflation<\/p>\n<p>Bank of Canada<\/p>\n<\/blockquote>\n<p>\u201cInflation is always going to be something you can\u2019t ignore,\u201d Chris Fowler, chief executive of Canadian Western Bank, said in a recent interview. Bank of Canada\u2019s leaders \u201cdon\u2019t want to be in the position that we\u2019re in today, and have been for a number years with minimal inflation,\u201d he said. \u201cTheir stimulus, in some ways, was to stop deflation.\u201d<\/p>\n<p>The official numbers continue to reflect economic weakness. The CPI, which the Bank of Canada uses to guide its interest-rate setting, was 1.1 per cent in February. That\u2019s near the low end of the central bank\u2019s comfort zone, which it defines as a range of one per cent to three per cent. The goal is to keep inflation somewhere in the middle.<\/p>\n<p>However, the central bank and Statistics Canada realized early on in the pandemic that spending patterns had changed. They came up with a supplementary measure of the CPI that puts greater weight on the things being bought during the lockdowns, such as groceries and bigger houses in the suburbs, and less weight on things that were essentially off limits, like airline tickets.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\" wp_automatic_readability=\"6.5\">\n<div class=\"ad__placeholder\" wp_automatic_readability=\"8\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group\" wp_automatic_readability=\"53.287521815009\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>The adjusted measure suggests inflation has indeed been running hotter than the official figure, but not so much that it would force policy-makers to do anything differently. The adjusted CPI was unchanged from January, suggesting Macklem and his deputies won\u2019t be overly concerned about inflation when they revisit their interest-rate stance on April 21.<\/p>\n<p>Still, the latest batch of data might give them reason to taper their weekly purchases of Government of Canada bonds, currently at about $4 billion per week, with newly created money.<\/p>\n<p data-async=\"\">The central bank\u2019s quarterly Business Outlook Survey suggests a higher degree of concern over inflation than the chamber\u2019s numbers. The Bank of Canada survey found that, overall, companies are feeling good about their prospects. (The poll was conducted before the latest round of restrictions took effect.) The sentiment indicator was the highest it\u2019s been since 2011 and almost 60 per cent of respondents said they intended to increase investment over the next 12 months.<\/p>\n<section aria-labelledby=\"moreTopicLabel1806235502588837502479676706002367\" class=\"more-topic\" data-carousel-icon-button=\"\" data-carousel-type=\"list\"><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\" alt=\"The Bank of Canada survey, conducted before new restrictions came into effect earlier this month to tackle a third wave, found sales were at or above pre-pandemic levels for 64 per cent of businesses.&#10;\" class=\"lazyload\" src=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/business-0412.jpg?h=96&amp;strip=all&amp;quality=80\" height=\"96\" loading=\"lazy\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/business-0412.jpg?h=96&amp;strip=all&amp;quality=80,&#10;                                    https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/business-0412.jpg?h=192&amp;strip=all&amp;quality=80 2x,&#10;                                    https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/business-0412.jpg?h=288&amp;strip=all&amp;quality=80 3x\" width=\"96\"\/><\/picture>\n<h3 class=\"more-topic__item-text\"><span class=\"more-topic__item-text-clamp\"> sentiment jumps to third-highest ever with many companies believing pandemic harm behind them <\/span><\/h3>\n<\/li>\n<li class=\"more-topic__item\" data-carousel-item=\"\"><picture class=\"more-topic__item-image\"><img decoding=\"async\" ...=\"\" alt=\"\" back=\"\" basically=\"\" by=\"\" cent=\"\" class=\"lazyload\" src=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/housing-1-1.png?h=96&amp;strip=all&amp;quality=80\" don=\"\" double=\"\" down=\"\" five=\"\" for=\"\" four=\"\" go=\"\" height=\"96\" in=\"\" interest=\"\" it=\"\" loading=\"lazy\" market=\"\" mortgage=\"\" need=\"\" one-and-a-half=\"\" or=\"\" order=\"\" payments=\"\" people.=\"\" per=\"\" raise=\"\" rates=\"\" slow=\"\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/housing-1-1.png?h=96&amp;strip=all&amp;quality=80,&#10;                                    https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/housing-1-1.png?h=192&amp;strip=all&amp;quality=80 2x,&#10;                                    https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/housing-1-1.png?h=288&amp;strip=all&amp;quality=80 3x\" this=\"\" to=\"\" width=\"96\" you=\"\"\/><\/picture>\n<h3 class=\"more-topic__item-text\"><span class=\"more-topic__item-text-clamp\"> Low rates leave policymakers with tough choices as pandemic housing boom rages <\/span><\/h3>\n<\/li>\n<li class=\"more-topic__item\" data-carousel-item=\"\"><picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"Canadians have tucked away $180 billion in precautionary savings during the pandemic, and that extra spending power is expected to boost the economy when restrictions are lifted.\" class=\"lazyload\" src=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/vw0408cash.jpg?h=96&amp;strip=all&amp;quality=80\" height=\"96\" loading=\"lazy\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/vw0408cash.jpg?h=96&amp;strip=all&amp;quality=80,&#10;                                    https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/vw0408cash.jpg?h=192&amp;strip=all&amp;quality=80 2x,&#10;                                    https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/04\/vw0408cash.jpg?h=288&amp;strip=all&amp;quality=80 3x\" width=\"96\"\/><\/picture>\n<h3 class=\"more-topic__item-text\"><span class=\"more-topic__item-text-clamp\"> Safeguards needed to protect households from rising interest rates if inflation kicks in, CIBC\u2019s Dodig says <\/span><\/h3>\n<\/li>\n<li class=\"more-topic__item\" data-carousel-item=\"\"><picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"The COVID-19 pandemic has hit jobs and sectors that historically have fared better during hard economic times.\" class=\"lazyload\" src=\"https:\/\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/04\/postpandemic-kevin-carmichael.jpeg?h=96&amp;strip=all&amp;quality=80\" height=\"96\" loading=\"lazy\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/04\/postpandemic-kevin-carmichael.jpeg?h=96&amp;strip=all&amp;quality=80,&#10;                                    https:\/\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/04\/postpandemic-kevin-carmichael.jpeg?h=192&amp;strip=all&amp;quality=80 2x,&#10;                                    https:\/\/smartcdn.prod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2021\/04\/postpandemic-kevin-carmichael.jpeg?h=288&amp;strip=all&amp;quality=80 3x\" width=\"96\"\/><\/picture>\n<h3 class=\"more-topic__item-text\"><span class=\"more-topic__item-text-clamp\"> The pandemic exposed flaws in Canada\u2019s economic system. Fixing them won\u2019t be easy <\/span><\/h3>\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>A small majority of respondents said they expected input and output costs to rise over the next 12 months, an increase from the previous quarter. And 13 per cent of executives said they expected inflation to top three per cent, double the percentage who thought so in the previous survey. The last time a similar percentage of execs felt that way was back in the first half of 2011, and inflation never developed into a serious threat.<\/p>\n<p>For now, the Bank of Canada will probably be guided by consumer expectations for inflation to be about two per cent in a year and around three per cent in two years.<\/p>\n<p>\u201cWhile inflation pressures have perked up a bit, there\u2019s nothing to suggest that a more persistent increase is coming \u2026 yet,\u201d said Benjamin Reitzes, a Bank of Montreal economist.<\/p>\n<p><em>Financial Post<\/em><\/p>\n<p data-async=\"\"><em>\u2022 Email: kcarmichael@postmedia.com | Twitter: <a class=\"twitter-follow-button\" data-evt=\"click\" data-evt-typ=\"User Interaction Click\" data-evt-val=\"{\" control_fields=\"\" source=\"\" type=\"\" name=\"\" target=\"\" url=\"\" vertical=\"\" position=\"\" pixels=\"\" link=\"\" href=\"https:\/\/twitter.com\/carmichaelkevin\" rel=\"noopener nofollow\">CarmichaelKevin<\/a><\/em><\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt=\"beforeunload\" data-evt-typ=\"scroll-depth\" data-evt-val=\"{\" control_fields=\"\" of=\"\" page=\"\" viewed=\"\" story=\"\">\n<h2 class=\"visually-hidden\">Share this article in your social network<\/h2>\n<\/section>\n<div class=\"article-content__ad-group\">\n<div class=\"ad__section-border ad__section-border--category visually-hidden\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-acceptable\" wp_automatic_readability=\"6.5\">\n<div class=\"ad__placeholder\" wp_automatic_readability=\"8\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div>\n<\/section>\n<\/div><\/div>\n<div class=\"widget article-content__widget-group article-content__widget-group--slot1\">\n<section aria-labelledby=\"TheLogic1841923869329735385702528084637846\" class=\"feed-section feed-section--partner-story list-widget--partner-story the-logic\" data-async=\"\" wp_automatic_readability=\"2\">\n<div class=\"widget-title widget-title--partner-story flex-align-center row row--no-padding--left row--no-padding--right\" wp_automatic_readability=\"9\">\n<p> In-depth reporting on the innovation economy from The Logic, brought to you in partnership with the Financial Post. <\/p>\n<\/p><\/div>\n<\/section>\n<\/div>\n<div class=\"widget article-content__widget-group article-content__widget-group--slot2\">\n<section aria-labelledby=\"TopStoriesNewsletter4644915560293950611080842498665143\" class=\"newsletter-widget\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-target-list=\"FP_HeadlineNews\" data-widget=\"newsletter\" wp_automatic_readability=\"-22\">\n<div class=\"newsletter-widget__body\" wp_automatic_readability=\"13\">\n<h2 id=\"TopStoriesNewsletter4644915560293950611080842498665143\">Top Stories Newsletter<\/h2>\n<p class=\"newsletter-widget__text\">Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.<\/p>\n<div aria-hidden=\"false\" class=\"newsletter-widget__bottom js-form-main\">  <small> By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. 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Please try again <\/p>\n<\/p><\/div>\n<\/section>\n<\/div>\n<footer aria-label=\"Article Comments\" class=\"article-footer\" wp_automatic_readability=\"2.8704663212435\">\n<section class=\"comments__section\" id=\"comments\" wp_automatic_readability=\"-42.100172711572\">\n<h3 class=\"widget-title comments-anchor\" id=\"comments-area\">Comments<\/h3>\n<p class=\"comments__section-disclaimer\"> Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications\u2014you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings. <\/p>\n<\/section>\n<\/footer>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>\n<br \/>New inflation data suggest Bank of Canada needn&#8217;t worry about raising rates anytime soon<\/a><br \/>\n<br \/>2021-04-12 19:36:26<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Economy Kevin Carmichael: Evidence of calm from executives and households will embolden central bank to stick to current plans Author of the article: Kevin Carmichael Publishing&#8230;<\/p>\n","protected":false},"author":2,"featured_media":8774,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-8773","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/8773","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=8773"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/8773\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/8774"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=8773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=8773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=8773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}