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Fiscal and Monetary Policy Are Not at Odds, Bank of Canada’s Macklem Tells MPs
Macklem said the central bank would only criticize fiscal policy if spending became unsustainable or made it harder to return inflation to 2%.
- On Tuesday, Bank of Canada Governor Tiff Macklem told the House of Commons finance committee that the federal government's fiscal policy is not hindering the central bank's inflation control efforts.
- The Bank recently increased its benchmark interest rate for the first time in more than three years, seeking to get ahead of inflation pressures in Canada.
- Governor Macklem explained he only comments on fiscal policy if spending becomes unsustainable or hinders the Bank's 2% target. "In the current circumstances, I don't think either of those criteria are met," he said.
- Conservative finance critic Michael Chong questioned Macklem regarding the government's affordability efforts during the committee hearing, though the Governor declined to answer directly.
- This testimony occurred two days before the Liberal government plans to table its 2026 federal budget, signaling the central bank's stance ahead of fiscal announcements.
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32 Articles
32 Articles
The Governor of the Bank of Canada, Tiff Macklem, does not believe that the federal government's fiscal policy is in contradiction with the central bank's efforts to control inflation.
·Montreal, Canada
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Bank of Canada head says fiscal policy not hitting fight against ...
·London, United Kingdom
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The Toronto Star+4 Reposted by 4 other sources
Fiscal and monetary policy are not at odds, Bank of Canada’s Macklem tells MPs
OTTAWA - Bank of Canada governor Tiff Macklem says he doesn't think the federal government's fiscal policy is at odds with the central bank's efforts to control inflation.
·Toronto, Canada
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Winnipeg Free Press+23 Reposted by 23 other sources
Fiscal and monetary policy are not at odds, Bank of Canada's Macklem tells MPs
OTTAWA - Bank of Canada governor Tiff Macklem says he doesn't think the federal government's fiscal policy is at odds with the central bank's efforts to control inflation.
·Winnipeg, Canada
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Total News Sources32
Leaning Left22Leaning Right0Center9Last UpdatedBias Distribution71% Left
Bias Distribution
- 71% of the sources lean Left
71% Left
L 71%
C 29%
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