net_left adver left

Bank of Canada says inflation still too high, but moving in right direction

Wednesday, September 21, 2022
Bank of Canada says inflation still too high, but moving in right direction © Reuters. People shop at a Walmart Supercentre amid coronavirus fears spreading in Toronto, Ontario, Canada March 13, 2020. REUTERS/Carlos Osorio

By Julie Gordon and David Ljunggren

OTTAWA (Reuters) -Inflation in Canada remains "too high" but is headed in the right direction, a Bank of Canada official said on Tuesday, adding that the central bank will do whatever is needed to bring price increases back to target.

Deputy Governor Paul Beaudry, speaking to university students in Waterloo, Ontario, said while some have suggested a recession might be needed to tame climbing prices, the central bank believed it could lower the risk of a hard landing by clearly communicating its intentions.

"In August, inflation stood at 7%. While we're headed in the right direction, that's still too high," Beaudry said in prepared remarks provided ahead of the speech.

"We will continue to take whatever actions are necessary to restore price stability for households and businesses and to maintain Canadians' confidence that we can deliver on our mandate of bringing inflation back to 2%," he added later.

Inflation slowed again in August, though both headline and core measures remain far above target. Adding to the pinch for consumers, grocery prices rose at their fastest pace in 41-years.

Central banks are concerned people may start to assume inflation will continue to rise faster than target, which could lead to price spirals.

While some have argued policymakers need to engineer a recession to avoid this, Beaudry said the bank is working to convince Canadians the current period of high inflation is temporary and it will tame surging prices.

"Our messages are designed to cut through the noise," said Beaudry. "The more effective the Bank can be in its guiding role, the greater the chance of a soft landing - and the lower the risk of a hard landing."

Still, economists said if consumer and business surveys due out next month show inflation has become more entrenched, the Bank of Canada may have to change its tune.

"The pace of increases clearly shows that if the central bank has to make a choice between avoiding a recession and controlling inflation, they will choose the latter every time," said Royce Mendes, head of macro strategy at Desjardins Group, in a note.

The Bank of Canada has boosted its policy rate by 300-basis points in six months and earlier this month signaled it was not yet done. Money markets are betting on another 50-bp increase in October to 3.75%.

The Canadian dollar was trading 0.8% lower at 1.3360 to the greenback, or 74.85 U.S. cents.

Leave your comment
HOT AUTO TRADE BOT SOFTWARE adver right
APPROVED BROKERS
net_home_top HOT AUTO TRADE BOT SOFTWARE
29-09-2022 05:55:58 (UTC+7)

EUR/USD

0.9721

-0.0013 (-0.13%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (5)

EUR/USD

0.9721

-0.0013 (-0.13%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (5)

GBP/USD

1.0859

-0.0029 (-0.27%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (5)

USD/JPY

144.24

+0.07 (+0.05%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

AUD/USD

0.6513

-0.0009 (-0.14%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (3)

USD/CAD

1.3620

+0.0014 (+0.11%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (2)

EUR/JPY

140.21

-0.12 (-0.09%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

EUR/CHF

0.9498

-0.0003 (-0.04%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (1)

Sell (4)

Gold Futures

1,665.95

-2.75 (-0.16%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (9)

Silver Futures

18.863

-0.047 (-0.25%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

Copper Futures

3.3782

-0.0033 (-0.10%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

Crude Oil WTI Futures

81.80

-0.05 (-0.06%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (5)

Sell (3)

Brent Oil Futures

87.98

+3.11 (+3.66%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

Natural Gas Futures

7.002

-0.025 (-0.36%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

US Coffee C Futures

227.80

+3.45 (+1.54%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

Euro Stoxx 50

3,335.30

+6.65 (+0.20%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (2)

Sell (5)

S&P 500

3,719.04

+71.75 (+1.97%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (8)

DAX

12,183.28

+43.60 (+0.36%)

Summary

Neutral

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (1)

Sell (4)

FTSE 100

7,005.39

+20.80 (+0.30%)

Summary

Neutral

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (0)

Sell (6)

Hang Seng

17,250.88

-609.43 (-3.41%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (2)

US Small Cap 2000

1,725.13

+62.62 (+3.77%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (3)

IBEX 35

7,442.20

-3.50 (-0.05%)

Summary

Neutral

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (5)

BASF SE NA O.N.

39.415

-0.080 (-0.20%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Bayer AG NA

48.19

-0.07 (-0.13%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (4)

Allianz SE VNA O.N.

160.72

-3.02 (-1.84%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Adidas AG

130.24

+2.94 (+2.31%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (1)

Deutsche Lufthansa AG

5.772

-0.024 (-0.41%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Siemens AG Class N

99.46

+1.54 (+1.57%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Deutsche Bank AG

7.854

-0.274 (-3.37%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (7)

 EUR/USD0.9721↑ Sell
 GBP/USD1.0859Sell
 USD/JPY144.24↑ Buy
 AUD/USD0.6513Neutral
 USD/CAD1.3620Buy
 EUR/JPY140.21↑ Sell
 EUR/CHF0.9498Neutral
 Gold1,665.95↑ Sell
 Silver18.863↑ Sell
 Copper3.3782↑ Sell
 Crude Oil WTI81.80Neutral
 Brent Oil87.98↑ Buy
 Natural Gas7.002↑ Sell
 US Coffee C227.80↑ Sell
 Euro Stoxx 503,335.30Neutral
 S&P 5003,719.04↑ Sell
 DAX12,183.28Neutral
 FTSE 1007,005.39Neutral
 Hang Seng17,250.88Buy
 Small Cap 20001,725.13↑ Buy
 IBEX 357,442.20Neutral
 BASF39.415↑ Buy
 Bayer48.19Neutral
 Allianz160.72↑ Buy
 Adidas130.24↑ Buy
 Lufthansa5.772↑ Buy
 Siemens AG99.46↑ Buy
 Deutsche Bank AG7.854↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,410/ 6,510
(0/ 0) # 1,818
SJC HCM6,420/ 6,520
(0/ 0) # 1,831
SJC Hanoi6,420/ 6,522
(0/ 0) # 1,833
SJC Danang6,420/ 6,522
(0/ 0) # 1,833
SJC Nhatrang6,420/ 6,522
(0/ 0) # 1,833
SJC Cantho6,420/ 6,522
(0/ 0) # 1,833
Cập nhật 29-09-2022 05:56:00
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,658.25+29.141.79%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V23.26023.720
RON 95-III22.58023.030
E5 RON 92-II21.78022.210
DO 0.05S22.53022.980
DO 0,001S-V24.51025.000
Dầu hỏa 2-K22.44022.880
ↂ Giá dầu thô thế giới
WTI$80.94-1.35-1.67%
Brent$88.24-1.29-1.46%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.580,0023.890,00
EUR22.159,1623.399,49
GBP24.732,3625.786,46
JPY159,76169,13
KRW14,2317,34
Cập nhật lúc 17:55:10 28/09/2022
Xem bảng tỷ giá hối đoái
adver main right