According to the report of Jinshi, Derek Holt, an economist at Scotiabank, said that Caroline Rogers, the second-in-command of the Bank of Canada, was hesitant to accelerate and deepen the pace of interest rate cuts. Rogers believes that although the return of the inflation rate to 2% is good news, there is still work to be done on inflation, including further declines in core prices.
Holt told clients in a note that Rogers’ stance was correct and that overall the comments did not sound like they would lead to a significant rate cut in the near term.
