RSS Bank of Canada Governor Macklem: Data since last rate decision has been mixed

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 RSS Bank of Canada Governor Macklem: Data since last rate decision has been mixed

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  • We discussed both 25 and 50 bps
  • There are some mixed signals in the economic data
  • We cut by 50 bps for 2 reasons: 1) We no longer need policy that's clearly in restrictive territory. 2) All the data tilts towards a softer economic outlook for GDP growth compared to October estimates
  • Cites lower immigration targets as a reason to suspect lower growth
This article was written by Adam Button at www.forexlive.com.
 
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