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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: inflation and price stability, labour markets and jobs

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

ContextOpening statement by Tiff Macklem, Governor of the Bank of Canada, before the House of Commons Standing Committee on Finance, Ottawa, Ontario, 1 February 2024.

Why it mattersMacklem tells MPs that wages and expectations still show inflation pressure.

Problems raised
  1. Inflation expectations and wages show underlying pressure.
  2. Demand is weak.
  3. Inflation remains above target.
Solutions proposed
  1. Hold the rate at 5%.
  2. Expect inflation to ease further.
  3. Monitor expectations and wages.
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