BoC Senior Deputy Governor Rogers says BoC will have a tough job dealing with structural changes to the economy; trade tensions, reduced immigration levels and AI adoption will permanently alter the landscape
Importance
Level 1
- Canadians may face a lot of economic upheaval in the next five years; bank is expecting a more variable inflation environment.
- Reduced immigration levels mean less potential for economy to grow; this poses a challenge.
- Bank will be assessing economy carefully, trying to separate cyclical from structural impacts.
- Rogers reiterates that bank expects recent climb in energy prices will push up inflation in near term.
- Bank needs to guard against higher energy prices triggering ongoing, persistent inflation.
- Bank's forecasts suggest Canadian labor force will see almost no growth over next few years.
#UNITED STATES#USD#EUR#CANADA#CAD#JAPAN#JPY#UNITED KINGDOM#GBP#EUROPE#ROGERS CORP#GOVERNOR#BOC#IMPORTANT#FOREX#FIXED INCOME#EU SESSION#US SESSION#CENTRAL BANK#INFLATION#DXY#TRADE#TRADE#AI