Canada’s Murray on commodity price volatility
John Murray, a deputy governor of the Bank of Canada, on Thursday said a large proportion of the sizable swings and exceptional volatility witnessed in commodity prices is caused by market fundamentals and not speculation.
At an event in Regina, Canada, Murray said: "Over the medium run, economists are concerned about the negative effects large and persistent swings in commodity prices can have on the macroeconomy by destabilising output and spurring inflation. In the short run, highly volatile
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