BOC's Gov. Macklem: The likelihood of a wage-price spiral has decreased

tweet at 11:16am: BOC'S GOV. MACKLEM: IF INFLATION FALLS, IT WILL BE PROOF THAT BOC HAS DONE ENOUGH. tweet at 11:15am: BOC'S GOV. MACKLEM: WHEN ASKED WHAT HE WOULD NEED TO SEE TO RAISE INTEREST RATES AGAIN, HE SAYS HE WOULD LOOK FOR AN ACCUMULATION OF EVIDENCE. tweet at 11:17am: BOC'S GOV. MACKLEM: SERVICE INFLATION WILL TAKE LONGER TO DECLINE. tweet at 11:17am: Boc's gov. macklem: service inflation will take longer to decline. tweet at 11:20am: BOC’S MACKLEM: IT IS ‘FAR TOO EARLY TO TALK ABOUT RATE CUT’; INFLATION STILL 6% VS. 2% TARGET #interestrates #inflation #Canada #economy

State Sen. Wendy Rogers (R-AZ) has introduced a set of bills aimed at making bitcoin legal tender in Arizona and allowing state agencies to accept bitcoin. The proposed ...

tweet at 11:00am: BOC'S MACKLEM - WE ARE TURNING THE CORNER ON INFLATION, BUT ARE STILL A LONG WAY FROM OUR TARGET - https://t.co/wXVagA44VK tweet at 11:01am: BOC'S GOV. MACKLEM: THE BANK OF CANADA HAS QUICKLY RAISED INTEREST RATES; NOW IS THE TIME TO PAUSE AND CONSIDER WHETHER MONETARY POLICY IS SUFFICIENTLY RESTRICTIVE. tweet at 11:00am: <CAD=>:*MACKLEM SAYS FULL EFFECT OF HIKES TO DATE 'IS STILL TO COME' *MACKLEM: RATE PAUSE IS 'CONDITIONAL ON ECONOMIC DEVELOPMENTS' *HIKING TOO FAR RISKS UNDERSHOOTING INFLATION TARGET: MACKLEMMacklem: Monetary Policy Report Press Conference Opening Statement Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss today’s policy announcement and the Bank’s Monetary Policy Report (MPR). Our policy decision today has two elements. First, we raised our policy interest rate by 25 basis points to 4.50% and we are continuing quantitative tightening. Second, if economic developments evolve broadly in line with the forecast we published today, we expect to hold the policy rate at its current level while we assess the impact of the cumulative 425-basis-point increase in our policy rate. We have raised rates rapidly, and now it’s time to pause and assess whether monetary policy is sufficiently restrictive to bring inflat tweet at 11:04am: BoC’s Macklem: If We Need To Do More To Get Inflation To The 2% Target, We Will; If Upside Risks Materialise We Are Prepared To Raise Rates Further