· Tiff Macklem Wiki · Bank of Canada WikiRelease of the Monetary Policy Report
Read full speech on bis.org ↗ContextOpening statement by Tiff Macklem, Governor of the Bank of Canada, at the press conference following the release of the Monetary Policy Report, Ottawa, Ontario, 26 October 2022.
Why it mattersCanada raises to 3.75% while watching upside risks.
Problems raised
- Inflation is far above target.
- Upside risks are a concern.
- Demand must slow.
Solutions proposed
- Raise the policy rate to 3.75%.
- Watch upside risks.
- Continue tightening as needed.