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The BoC’s primary goal is to return inflation to 2 percent but it also has to support maximum sustainable employment
Eighty percent of respondents also said regulations should be put in place to require merchants to accept cash as a form of payment.
Tiff Macklem says the budgetary balance is ‘little changed’ relative to what it was in the budget earlier this year.
The BoC governor says inflation would drop 16 percent if Ottawa was to remove its carbon tax altogether.
BoC governor Tiff Macklem says it would be easier to get inflation down if monetary and fiscal policy were ‘rowing in the same direction.’
Bank of Canada governor Tiff Macklem called the U.S. economy “surprisingly strong” in his opening remarks at the central bank’s press conference.
What may be the most compelling reason for the BoC to start raising rates again was not mentioned in its statement.
The pause marked the first time since January 2022 that the BoC did not raise rates—eight consecutive rate hikes for a combined 4.25 percentage points.
