BoC's Macklem: Lower-income households to be disproportionately affected by slowdown in activity
|"Inflation is too high around the world, rapid increases in interest rates are raising the costs of servicing debt," Bank of Canada (BoC) Governor Tiff Macklem said on Monday, as reported by Reuters.
Macklem further noted that lower-income households will be disproportionately affected by the slowdown in economic activity that is needed to rebalance demand and supply.
Market reaction
These comments don't seem to be having an impact on USDCAD's action. As of writing, the pair was trading at 1.3275, where it was up 0.15% on a daily basis.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.