BoC’s Macklem: Officials discussed need for potential hikes at last meeting – by MSalordFX BOC CentralBanks USDCAD
Governor reiterated that interest rates may need to stay at higher levels for a longer period of time to get inflation back to the target. Regarding quantitative tightening, he said that will likely continue amid interest rate normalization, but it could end earlier if the economy needs stimulus. USD/CAD is hovering around 1.3365, up on Friday, but on its way to the lowest weekly close since February. The Loonie outperformed during the week.
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