Repeats Macklem’s line that if inflation continues to ease, it is reasonable to expect further rate cuts and that they are taking it one meeting at a timeBOC is putting together an in-depth review of all exceptional actions taken during the pandemicThe bar for US to use QE again is very highUnwinding of QE through QT has gone smoothly
None of this is a surprise but I fear that when the next supply shock comes, central banks won’t do enough and it will be a growth crisis rather than an inflation one.
This article was written by Adam Button at www.forexlive.com.
