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Bank of Canada head ‘encouraged’ by Ottawa’s efforts to diversify economy

Governor Tiff Macklem held the benchmark interest rate steady at 2.25 per cent on Wednesday, marking the fourth consecutive decision by the Bank to maintain rates.
Inflation stood at 2.4 per cent in March as global oil price shocks hit gas pumps and food costs remained elevated across Canada.
Macklem identified overreliance on the United States and underdeveloped east-west trade corridors as long-standing vulnerabilities holding back business investment and productivity growth in Canada.
Prime Minister Mark Carney, who served as Governor for five years, has pushed to knock down trade barriers, providing what Macklem calls "renewed momentum" to address these issues.
The Bank forecasts inflation will peak around three per cent in April before cooling to its two per cent target in early 2027, assuming global oil prices ease.

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Governor of the Bank of Canada, Tiff Macklem "Encouraged" by the Economic Orientation of Ottawa

Bank of Canada Governor Tiff Macklem said he was "encouraged" by the federal government's efforts to diversify the economy and protect it from the increasingly frequent shocks to world trade.

4 hours ago·Montreal, Canada

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The Toronto Star

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Bank of Canada head ‘encouraged’ by Ottawa’s efforts to diversify economy

OTTAWA - Bank of Canada governor Tiff Macklem says he's "encouraged" by the federal government's efforts to diversify the economy and protect it against increasingly common shocks to global trade.

8 hours ago·Toronto, Canada

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