Macklem Q&A: We are prepared to move as forefully as needed to get inflation on target

We need to ensure inflation expectations remain moored and that was part of our decision today We have see a very-impressive recovery in the economy The labour market has more-than fully recovered The latest budget isn't incorporated into our forecast but spending isn't on a scale that would materially impact our estimates Roughly 40% of the bonds on our balance sheet will mature within 2 years "At this time" we don't see the need to actively sell bonds Rogers: Household balance sheets have improved over the pandemicRogers: We think that consumers can withstand higher ratesRogers: There is a stronger interest in investing from businessesWe haven't seen much strengthening of the Canadian dollar and that has some implicationsWe're not getting a rise this time in the Canadian dollar along with oilI'll leave it to markets to determine the value of the Canadian dollarWe're not getting as much as an investment response from the oilpatch as historicallyWe need to be humble about the path of rates once we get closer to neutralPrices are too high; more than two-thirds of CPI components are rising faster than 3%50 bps hike sends the message that mon pol needs to be normalized relatively quicklyWe're not on auto-pilot