Experts are optimistic that the inflation target of 2% will be reached by the end of 2023, but that the increase in the cost of living is regaining some stability.
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That’s the view of analyst Simon Brière, chief strategist at RJ O’Brien, and it’s an opinion he shared on a Philippe-Vincent Foisy microphone on Thursday, the day after the Bank of Canada’s announcement, leaving the policy rate at 4.5%.
This break did not come as a surprise to Mr. Breyer, as he was invited to comment on the situation on QUB radio on Thursday. “We expected this break, 4.5%. And the slogan that the bank told us yesterday: “It is not tomorrow that prices will fall.”
The specialist also found himself very optimistic that economists envision a return to 2% by the end of 2023, targeting the end of 2024 instead.
“Inflation is starting to take hold, and we’re aiming for maybe 3% this summer, but we’re still very far from the 2% target,” he said. He added: “It is very optimistic and directly contradicts what Mr. Macklem said yesterday.”
There are still positive signs to note for Mr. Breyer.
“There are certain interesting signs in terms of inflation, it’s coming down a little bit, and we’re slowly finding this stabilization in terms of the cost of living increase, but we’re still aiming for that 2% inflation.”
So the time to watch is now, which will determine the future of prices.
“We want to look at what’s happening in the economy and say to ourselves, ‘When are we going to maybe start wanting to turn them back?'” [les taux] Or increase them, because the door is still open to increase rates if necessary.
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