The Daily Chase: Awaiting U.S. Fed rate decision; Canada Goose lowers revenue forecast
BNN Bloomberg
It's decision day for the U.S. Federal Reserve and traders are betting on yet another outsized rate increase.
MACKLEM REITERATES RATES NEED TO RISE FURTHER
Bank of Canada governor Tiff Macklem reiterated his stance that rates will need to continue rising but has signaled we’re getting to the back nine on this round of tightening. Speaking before a Senate committee late yesterday, Macklem spoke directly to the risks of over and under-tightening to the domestic economy, as the central bank looks to balance the monetary policy risks as it tackles sky-high inflation. The Bank of Canada has been extremely aggressive in its fight against price pressures, raising its policy rate a full 3.5 percentage points from the pandemic trough of 0.25 per cent.
REGULATOR DIGS IN ON ROGERS-SHAW DEAL
