· Tiff Macklem Wiki · Bank of Canada WikiOpening statement before the Monetary Policy Report Press Conference
Read full speech on bis.org ↗ContextOpening statement by Tiff Macklem, Governor of the Bank of Canada, before the Monetary Policy Report Press Conference, Ottawa, Ontario, 13 April 2022.
Why it mattersMacklem explains the half-point hike after the invasion.
Problems raised
- Russia's invasion causes suffering.
- Oil prices and supply chains drive inflation.
- Expectations must stay anchored.
Solutions proposed
- Raise rates.
- Keep expectations anchored.
- Expect inflation to fall back.