More from BOC Macklem: Expecting March CPI to be around 2.5%

More from BOCs Macklem:

• Part of the February CPI release was expected.
• Still expecting March CPI to be around 2.5%.
• February data has fundamentally changed our view.
• Expect shelter inflation to come down gradually.
• Not really seeing evidence yet that consumer prices are being affected by tariffs
• We’ve demonstrated we can use our instruments to control inflation.
• There are a range of possible outcomes and I don’t think anyone in the governing Council can have a very high conviction about what the most likely outcome is.
• Once uncertainty is over, we will move back more to a single projection for the Canadian economy.
• As the things become clearer, that could affect our policy decisions and what we decide to do.
• We are going to be proceeding carefully with any further changes to our policy interest rate.

This article was written by Greg Michalowski at www.forexlive.com.