Bank of Canada May Need to Raise Rates Again, Despite This Week’s Hold: Macklem

Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers hold a press conference at the Bank of Canada in Ottawa on July 12, 2023. The Canadian Press/Sean Kilpatrick

Bank of Canada Governor Tiff Macklem said the central bank may have to raise interest rates further, given inflation may stay high for some time.

That’s according to prepared remarks the governor is delivering before the Calgary Chamber of Commerce on Thursday.