QUOTES-Top Bank of Canada officials speak after central bank holds policy rate steady
TORONTO, July 30 (Reuters) - Below are some key quotes from a news conference by Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers on Wednesday after the central bank held its key policy rate steady at 2.75%.
MACKLEM ON CORE MEASURES
"One of the reasons why we held the policy rate unchanged is because, yes, we have seen some additional pressures in underlying inflation. Core measures, the trim mean, trim median, have been running around 3. If you look at a broader range of core measures, they've all moved up. ... So, yes, that has got our attention. And, going forward, we are going to be watching closely what happens with those pressures and underlying inflation.
MACKLEM ON CORE INFLATION UNWINDING
"Some of the factors that may be causing that increase should unwind. The Canadian dollar appreciated after depreciating. That should pull in part. ... Wage growth has decelerated, and the economy is in excess supply. We think the economy contracted in the second quarter. So those things are all going to put downward pressure."
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