Protectionism won’t divert Bank of Canada’s inflation focus – Wilkins
Rate-setters think gradual normalisation is still appropriate, higher rates necessary to achieve target
Worsening trade relations with the US will not modify the Bank of Canada’s goal of prioritising stable inflation, deputy governor Carolyn Wilkins said on September 6.
On September 5, the central bank’s governing council kept rates unchanged at 1.5%. However, it said recent economic data had reinforced its assessment that “higher interest rates will be warranted to achieve the inflation target”.
This would imply Canadian rate-setters will not shy away from tightening financial conditions even
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