BoC's Macklem: Lower-income households to be disproportionately affected by slowdown in activity

Eren Sengezer FXStreet

"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.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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