Fiscal and Monetary Policy Rowing in Opposite Directions, Macklem Says

Bank of Canada Governor Tiff Macklem waits to appear at the House of Commons Standing Committee on Finance, in Ottawa, on Oct. 30, 2023. The Canadian Press/Adrian Wyld

Bank of Canada Governor Tiff Macklem says fiscal and monetary policy are rowing in opposite directions, making it harder to bring inflation down.

Mr. Macklem is appearing before MPs on the House of Commons finance committee after the Bank of Canada’s recent rate decision and quarterly economic projections.