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Bank of Canada head Tiff Macklem says mandate should evolve in a ‘shock-prone’ world
- On June 4, 2025, the head of Canada’s central bank chose to maintain the benchmark interest rate, highlighting ongoing economic uncertainties in Ottawa.
- Macklem explained that the COVID-19 recovery sparked inflation, leading to a rapid tightening cycle, and the federal government’s inflation mandate is up for review next year.
- He emphasized the bank now navigates a 'shock-prone' world with increased data reliance and ongoing scrutiny of core inflation amid concerns like housing affordability and tariff disputes.
- Macklem stated, "We didn't cause a recession," and noted the inflation framework has faced its biggest test in 30 years while Canada assumes a G7 leadership role.
- He said meetings next year will settle mandate expansions to address Canadians’ concerns, indicating the Bank of Canada aims to secure price stability without inducing recession.
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The Bank of Canada's mandate must evolve to better deal with global economic crises," said Governor Tiff Macklem.
·Montreal, Canada
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Winnipeg Free Press+22 Reposted by 22 other sources
Bank of Canada head Tiff Macklem says mandate should evolve in a 'shock
Breaking News, Sports, Manitoba, Canada
·Winnipeg, Canada
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Total News Sources42
Leaning Left13Leaning Right2Center5Last UpdatedBias Distribution65% Left
Bias Distribution
- 65% of the sources lean Left
65% Left
L 65%
C 25%
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