The Bank of Canada is breaking new ground by appointing an outside voice to its governing council and releasing policy talks. Read on.
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“I’m very excited about the appointment,” Macklem said. “I have every confidence he’s going to make a very important contribution to our deliberation.”Article content That prompted Macklem and his officials to deliver eight straight hikes, a policy U-turn that brought the benchmark overnight rate to 4.5 per cent from the emergency low 0.25 per cent that held through the pandemic. But after last month’s increase, the bank is moving to the sidelines to assess the impact of sharply higher borrowing costs on the economy.
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