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Bank of Canada says it is ready to act ‘forcefully’ to meet 2% inflation target

OTTAWA (Reuters) -The Bank of Canada is prepared to act “forcefully” with rate hikes to return inflation to target, particularly as price pressures broaden amid tight labor markets and booming demand, a deputy governor said on Friday. Sharon Kozicki, in her first speech since joining governing council last year, also said the pace and magnitude of interest rate increases, along with the start of quantitative tightening, would be actively discussed at the central bank’s April meeting. “Inflation in Canada is too high, labor markets are tight and there is considerable momentum in demand,” Kozicki said, speaking via webcast to the Federal Reserve Bank of San Francisco.

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