When the median vote is not an increment of 25 basis points, as occurred this time for the upcoming setting, the recommendation is rounded in the direction of the previous setting. [...] The tie-breaking rounding of a split vote in the direction of the previous setting mattered for the Council’s vote on the upcoming announcement, with four of the eight members attending the meeting favouring a 4.25 percent target for the overnight rate and four favouring a target of 4.50 percent. [...] Among the indicators emphasized by the group favouring no further increases in the overnight rate target and cuts over the coming year were the sharp deceleration in the monetary aggregates, signs of flagging consumer demand and a weaker housing market. [...] Among the indicators emphasized by the group favouring further hikes in the overnight rate were the fact that recent weakness in the monetary aggregates has not offset previous growth, and that the labour market remains tight. [...] Williamson Western University 4.25 4.25 4.25 4.25 Maintain Craig Wright RBC 4.50 4.50 4.50 4.25 Maintain Median Vote 4.25 4.50 4.50 4.25 N/A The views and opinions expressed by the participants are their own and do not necessarily reflect the views of the organizations with which they are affiliated, or those of the C.
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