Inflation Would Be Lower if Ottawa Had Spent Less on Pandemic Stimulus: Bank of Canada Governor

Inflation Would Be Lower if Ottawa Had Spent Less on Pandemic Stimulus: Bank of Canada Governor
Bank of Canada Governor Tiff Macklem prepares for a press conference in Ottawa on Dec. 15, 2021. Justin Tang/The Canadian Press
Peter Wilson
Updated:
Canada’s current inflation rate of 6.9 percent would have been lower if the federal government had spent less on pandemic stimulus or stopped stimulating the economy earlier, says Bank of Canada Governor Tiff Macklem.

Macklem appeared before the House of Commons finance committee yesterday, where he faced questions from all parties about his thoughts on rising interest rates, inflation projections, and how both could have been eased if different actions had been taken.