BoC Governor Deputy Governor Sharon Kozicki said in speech yesterday, “going forward, we will be considering whether to increase rates further”.
“By that, we mean that we expect our decisions will be more data-dependent,” she said. “If we are surprised on the upside, we are still prepared to be forceful. But we recognize that we have raised interest rates rapidly and that their effects are working their way through the economy.”
“In other words, we are moving from how much to raise interest rates to whether to raise interest rates,” she added.
