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Tariffs, structural change and monetary policy

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

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability, trade, fragmentation and geopolitics

TM
· Tiff Macklem Wiki · Bank of Canada WikiTariffs, structural change and monetary policy

ContextRemarks to the Mississauga Board of Trade and Oakville Chamber of Commerce in Ontario; the Bank of Canada keeps inflation low and stable and faces US tariff threats.

Why it mattersThe Bank of Canada explains how tariffs could both weaken demand and raise costs, complicating rate decisions.

Problems raised
  1. Tariffs weaken the economy.
  2. Import costs and supply disruptions push prices up.
  3. Structural change challenges policy.
Solutions proposed
  1. Weigh weaker demand against higher costs.
  2. Balance inflation risks both ways.
  3. Renew the monetary policy framework.
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