The Daily Chase: Bank of Canada under pressure to tame inflation; TSX posts gains

Bank of Canada governor Tiff Macklem was in the hot seat late yesterday as he appeared before the House Finance Committee to field questions over the bank's efforts to drive inflation back down to target.

U.S. FED SEES SLOWDOWN IN RATE HIKES

Speaking of central banks, we got some fresh insight into the thinking over at the U.S. Federal Reserve. The minutes from its latest meeting showed that most members of the U.S. central bank concluded it would be appropriate to slow the pace of interest rate increases in the near future, signalling the bulk of its tightening cycle could be in the rearview mirror. As of now, markets are pricing in a half percentage point rate increase from the Fed when it meets for the final time this year in mid-December, something of a downshift from the prior 75-basis-point hike.

TSX TAKES THE SPOTLIGHT