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BoC Governor Macklem says if oil prices do once again rise and feed into inflation; he expects to need consecutive rate hikes to keep inflation under control

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BoC Governor Macklem held rates at 2.25% but warned of potential consecutive hikes if oil prices drive persistent inflation, emphasizing a one-at-a-time decision-making approach regardless of CAD weakness.

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Going to take decisions one at a time. CAD weakness has not been a major factor in rate decisions.

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