Bank of Canada Governor Tiff Macklem said the government's current fiscal policy is not making the bank's inflation fight harder. He also reiterated that more interest rate hikes might be needed.
Governor Tiff Macklem told the House of Commons finance committee on Tuesday that the Canadian government's current fiscal policy is not making it harder for the central bank to fight inflation.
Macklem said the bank would comment on government policy only if it had become unsustainable or if it was making it harder to bring inflation back to the bank's 2% target. In the current circumstances, he said, he does not think either of those criteria is met.
He also reiterated that more interest rate hikes might be needed.
Source: Investing.com (Reuters)
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