Bank of Canada Deputy Governor Nicolas Vincent clarifies misinterpretation of interest rate cut in Sherbrooke speech.

In a speech in Sherbrooke, Quebec, Bank of Canada Deputy Governor Nicolas Vincent stressed the need for transparency and effective communication to maintain public trust. He explained that the bank's recent interest rate cut to 4.25% was misinterpreted as indicating stronger downside risks, when it aimed to highlight inflation concerns. Vincent underscored the importance of precise language in conveying the bank's decision-making process, with the next rate decision due on October 23.

September 19, 2024
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