Structural change, supply shocks and hard choices
· Tiff Macklem, Governor of the Bank of Canada (Canada)
Summary written by Dark Majestic in its own words · topics: inflation and price stability, trade, fragmentation and geopolitics
TM · Tiff Macklem Wiki · Bank of Canada WikiStructural change, supply shocks and hard choicesContextRemarks (virtually) by Tiff Macklem, Governor of the Bank of Canada, at the Chapultepec Conference, Mexico City, 6 February 2025.
Why it mattersThe Bank of Canada governor explains the hard choices posed by structural change and supply shocks.
Problems raised- Structural change and supply shocks challenge central banks.
- Tariffs and a weaker currency push import prices up.
- Weaker activity pushes inflation down.
Solutions proposed- Weigh the opposing pressures on inflation carefully.
- Make hard choices transparently.
- Thank the BIS for its leadership.
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