US EditionBank of Canada head Tiff Macklem says mandate should evolve in a ‘shock-prone’ world
- On June 4, 2025, the head of Canada’s central bank announced that the benchmark interest rate would remain unchanged, discussing efforts to manage inflation and economic issues in Ottawa.
- This decision followed a period of rapid rate hikes and cuts in response to inflation sparked by the COVID-19 recovery and recent U.S. Tariff disputes.
- Macklem highlighted that the bank is reevaluating metrics like core inflation and aims to expand its mandate to address Canadians' concerns, including housing affordability.
- He said, "We didn't cause a recession," and described the world as becoming more "shock-prone," requiring a nuanced policy approach relying on more granular data, as noted by Deputy Governor Kozicki.
- The federal government mandate, which includes a two per cent inflation target, will be reviewed next year to possibly incorporate new economic realities and public concerns.
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Winnipeg Free Press+20 Reposted by 20 other sources
Bank of Canada head Tiff Macklem says mandate should evolve in a 'shock
Breaking News, Sports, Manitoba, Canada
·Winnipeg, Canada
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OTTAWA—The Bank of Canada's mandate must evolve to better deal with global economic crises, says its governor, Tiff Macklem. This week, he gave an exclusive interview to La Presse canadienne, shortly after the Bank of Canada's decision to maintain its policy rate at 2.75. The central bank is trying to control inflation despite the customs duties imposed by the U.S. government. Mr. Macklem points out that it must also focus on other aspects of ec…
·Richelieu, Canada
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