Bank of Canada minutes on immediate rate hike: “the economy remained clearly in excess demand and that the rebalancing of supply and demand was likely to take longer than previously expected.” “members felt that enough data had accumulated to convince them that more restrictive policy was needed.”
by Dismal-Jellyfish Source: https://www.bankofcanada.ca/2023/06/summary-governing-council-deliberations-fixed-announcement-date-june-7-2023/ Highlights: “the economy remained clearly in excess demand and that the rebalancing of supply and demand was likely to take longer than previously expected.” “members felt that enough data had accumulated to convince them that more restrictive policy was needed.” Growth of gross domestic product (GDP) in the first quarter was …
