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Opening statement before the House of Commons Standing Committee on Finance

· Tiff Macklem, Governor of the Bank of Canada (Canada)

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability

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· Tiff Macklem Wiki · Bank of Canada WikiOpening statement before the House of Commons Standing Committee on Finance

ContextOpening statement (delivered virtually) by Tiff Macklem, Governor of the Bank of Canada, before the House of Commons Standing Committee on Finance, Ottawa, Ontario, 3 March 2022.

Why it mattersMacklem tells MPs that emergency stimulus is no longer needed.

Problems raised
  1. Inflation in Canada is too high.
  2. Supply disruptions push prices up.
  3. Emergency stimulus is no longer needed.
Solutions proposed
  1. Tighten monetary policy.
  2. Raise interest rates.
  3. Explain policy to Parliament.
Read full speech on bis.org ↗

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