BoC's Macklem: Inflation Clearly Above Target, Economy Still Soft
Bank of Canada Governor Tiff Macklem said inflation remains clearly above target while the economy continues to soften, speaking at the ECB's annual forum.
Speaking at a policy panel during the European Central Bank’s Forum on Central Banking on Wednesday, Bank of Canada Governor Tiff Macklem delivered a cautious assessment of Canada's economic outlook.
Macklem stated that inflation is still running “clearly above” the central bank’s target, even as economic growth remains soft. The remarks suggest the BoC faces a delicate balancing act between persistent price pressures and a weakening domestic economy.
The comments come ahead of the Bank of Canada’s next rate decision, with markets closely watching for any shift in forward guidance.
Source: FXStreet Forex News