BoC's Macklem: Focus on bringing inflation back to target without choking economy

Joel Frank Independent Analyst

Bank of Canada Governor Tiff Macklem said on Monday that the BoC was currently focused on bringing inflation back down to target without choking off Canada's economic recovery, in a post-Framework Review speech alongside Canadian Finance Minister Chrystia Freeland. We are not in a situation right now where we could probe for maximum sustainable employment, added Macklem.

Market Reaction

USD/CAD has pulled back from highs in recent trade but continues to trade to the north of the 1.2800 level, having seemingly not taken much notice of Macklem's remarks.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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