1431 ET - Bank of Canada Governor Tiff Macklem shifts his language regarding Canadian-dollar weakness, signaling further softness might be a factor in future rate-policy decisions. Previously, Macklem had said rate-policy divergence from the Federal Reserve had yet to reach its limits, in reference to worries about a weaker currency. At his press conference, he says CAD softness can be attributed to USD strength. Still, he notes that CAD had been "remarkably stable" for a prolonged period until recently, likely reflecting incoming President-elect Trump and his pledge to impose tariffs on Canada as high as 25%. "We have seen some depreciation. That is something we will have to factor in," he says. CAD is slightly stronger in Wednesday trading following the rate decision. (paul.vieira@wsj.com; @paulvieira)
(END) Dow Jones Newswires
December 11, 2024 14:31 ET (19:31 GMT)
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