BoC's Macklem: Canada is not there yet on full recovery

Bank of Canada (BoC) Governor Tiff Macklem is delivering his remarks following the bank's decision to leave the policy rate unchanged while lowering the weekly net purchases of Canadian government bonds to a target of C$2 billion from C$3 billion.

Key quotes

"Canada is not there yet on full recovery."

"Rise in Canadian inflation will be temporary in part because of slack in the economy."

"Will be watching the evolution of inflation very carefully."

"We do expect to see continued housing market moderation, could be faster than we have projected".