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Ending the pain of high inflation

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

Summary written by Dark Majestic in its own words · topics: inflation and price stability

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· Tiff Macklem Wiki · Bank of Canada WikiEnding the pain of high inflation

ContextRemarks to the Saint John Region Chamber of Commerce in New Brunswick; the Bank of Canada keeps inflation low and stable and wants to end high inflation.

Why it mattersMacklem says acting quickly avoids repeating the inflation mistakes of the 1970s.

Problems raised
  1. High inflation has caused pain for Canadians.
  2. Slow action against inflation leads to higher rates later.
  3. Higher rates weigh on households and businesses.
Solutions proposed
  1. Act quickly to avoid the mistakes of the 1970s.
  2. Keep policy high enough to return inflation to 2%.
  3. Explain policy decisions directly to regions across Canada.
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