BOC's Macklem Says We Still Need Restrictive Monetary Policy; Senior Deputy Governor Carolyn Rogers Says Bank Is Diverging From Other Nations Because Each Economy Is Working A Bit Differently; BOC's Rogers Says Central Banks Were Quite Coordinated As Inflation Rose Because A Big Part Of Inflation Was Global
Portfolio Pulse from Benzinga Newsdesk
The Bank of Canada's Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers emphasized the need for a restrictive monetary policy. Rogers noted that the Bank of Canada is diverging from other nations due to differing economic conditions. Both officials highlighted that central banks were coordinated during the inflation rise as it was a global issue.
June 05, 2024 | 3:12 pm
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NEUTRAL IMPACT
The Bank of Canada's emphasis on restrictive monetary policy and divergence from other nations could impact the iShares MSCI Canada ETF (EWC).
The Bank of Canada's stance on maintaining restrictive monetary policy could influence the Canadian economy and, by extension, the performance of the iShares MSCI Canada ETF (EWC). However, the direct impact on EWC's price in the short term is uncertain, leading to a neutral score.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50