Reply To: Bank of Canada Raises Rates 0.50% With Substantial Upward Revision on Inflation


Bank of Canada’s Senior Deputy Gov. Carolyn Rogers

Labor market is really a strong indicator right now of excess demand in Canadian economy
We don’t target components of inflation, would target overall level of inflation
we need higher rates to moderate demand including demand in the housing market
housing price growth is unsustainably strong in Canada
it would not be a bad thing for the economy for the growth in housing prices to moderate a bit
we do expect that housing price growth will moderate as rates go up