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Release of the Monetary Policy Report

· 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, climate, energy and nature, trade, fragmentation and geopolitics

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· Tiff Macklem Wiki · Bank of Canada WikiRelease of the Monetary Policy Report

ContextOpening statement by Tiff Macklem, Governor of the Bank of Canada and Carolyn Rogers, Senior Deputy Governor of the Bank of Canada, at the press conference following the monetary policy decision, Ottawa, Ontario, 18 March 2026.

Why it mattersThe Bank of Canada's March decision, the first after the Middle East war broke out, explaining why it looked through the immediate price impact.

Problems raised
  1. US trade policy and geopolitics create uncertainty.
  2. The economy is in excess supply and grows slowly.
  3. The Middle East conflict widens possible outcomes.
Solutions proposed
  1. Hold the policy rate at 2.25%.
  2. Look through the war's immediate impact on inflation.
  3. Prevent high energy prices from becoming persistent inflation.
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