BOC Macklem:We are not forecasting a recession nor think we need one to get inflation down

<ul><li>We are not forecasting a deep recession</li><li>We don't need to think that we need to get a recession to get inflation back to target </li><li>Inflation is still somewhat broad-based. That we become the persistence of underlying inflation.</li><li>It's important that we don't give Canadians a false sense of precision as regards to timing of a rate cut</li><li>Risk of a rate hike is not at 0%, but raising rates is not the base case</li><li>We are at a point where there is a lot of push and pull. There are mixed signals. When have confidence we will open the door toward easing policy. </li></ul>

This article was written by Greg Michalowski at www.forexlive.com.