Ed Devlin joined BNN Bloomberg’s special coverage of the Bank of Canada press conference given by Tiff Macklem on July 14th.
The first segment takes place right before the press conference. Ed talked about his view on the Bank’s signaling on interest rates and inflation, the complexity of the labour market and his hopes on what direction the Bank will take during the re-opening of the Canadian Economy.
The second segment takes place immediately after the Bank’s press conference. Ed thought that the content of the conference was in line with what was discussed in the interview prior to the conference. He also mentioned that the quality of economic data available in Canada is much lower than that of other countries, identifying it as a good target for improvement to facilitate decision-making. Ed finished by giving his thoughts on the Bank’s approach to the mortgage crisis and financing of the Canadian Government’s deficit.