Central Bank Governor Admits Errors Were Made Fighting Inflation

Central Bank Governor Admits Errors Were Made Fighting Inflation
Bank of Canada governor Tiff Macklem speaks during a news conference following an interest rate announcement, in Ottawa on Oct. 25, 2023. The Canadian Press/Adrian Wyld
William Crooks
Updated:
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Mistakes were made fighting recent inflation, Bank of Canada Governor Tiff Macklem has detailed in a new essay.

Mr. Macklem said he and his team underestimated the inflationary risk from the mix of supply shocks and high consumer demand during the COVID-19 pandemic.

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