U.S. Federal Reserve officials agreed last month on the need to eventually dial back the pace of interest-rate hikes but also wanted to gauge how their monetary tightening was working toward curbing US inflation.
The head of the Organization of Petroleum Exporting Countries today said the cartel and its allies are “willing to do whatever it takes to do what the market really requires.”
Canadian seniors are being forced to make tough choices, cutting out frills and nice-to-haves in the face of near 40-year-high inflation rates.
The Bank of Canada has more work to do in taming stubborn price pressures despite signs headline inflation may have peaked, Governor Tiff Macklem said.
Canada’s inflation cooled in July, but one prominent Bay Street economist said the latest data will compel the Bank of Canada to stay the course with its rate-hiking plans.
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