Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Bank of Canada chief comfortable with 2018 inflation above 2 pct -reports

Published 2018-04-22, 12:27 p/m
Updated 2018-04-22, 12:30 p/m
Bank of Canada chief comfortable with 2018 inflation above 2 pct -reports

Bank of Canada chief comfortable with 2018 inflation above 2 pct -reports

April 22 (Reuters) - Bank of Canada Governor Stephen Poloz said he expects the inflation rate to be above 2 percent in 2018, but he is comfortable with that as long as the long-term trend is steady, according to media reports published on Sunday.

Poloz made the comments at a Saturday media roundtable in Washington, according to the reports.

Canada's central bank on Wednesday kept benchmark interest rates steady. It flagged that more rate hikes would be coming but said it did not know when or how aggressive it would need to be to keep inflation in check. told reporters on Saturday that inflation will probably be above 2 percent for the whole year.

"That's actually a positive thing," the Canadian Press quoted Poloz as saying.

He said the bank is comfortable with fluctuations in inflation.

“Some people think it's more mechanical, and that's fair. If inflation is going to be 2.3 or something like that, you should be raising interest rates to make it 2,” Bloomberg News quoted Poloz as saying.

“I want to go out of my way to help them appreciate that's not the way it works," Bloomberg quoted him as saying.

The bank on Wednesday trimmed its economic growth forecast for 2018, but raised its 2019 outlook, saying the economy is operating with little slack.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.