BOC: Oil Price Decline
Bank of Canada Governor Macklem says oil price decline takes some upside risk on inflation away
Historically high AI valuations pose a financial risk - - Worried that forward guidance becomes false precision - - USMCA renewal will be unlikely by July 1st; Talks are ongoing - - Stresses USMCA is in place for many years even amid review; Canada's May CPI aligned with BOC expectations - - Overall bank is not seeing so far much spreading of higher oil prices to other prices of other goods and services - - There's no sign of oil prices spreading to general CPI - - Food inflation is a concern - -