Bank of Canada Governor Says Inflation Expected to Near 2 Percent by End of 2024

Bank of Canada governor Tiff Macklem holds a press conference at the Bank of Canada in Ottawa after release of the bank’s 2023 financial system review on May 18, 2023. The Canadian Press/Patrick Doyle

The governor of the Bank of Canada (BoC) says he expects the country’s inflation rate to be close to the targeted 2 percent by late 2024 but he didn’t commit to lowering the interest rate.

Tiff Macklem made the comments during his year-end speech at the Canadian Club in Toronto on Dec. 15.