Bank of Canada governor Tiff Macklem says more interest rate hikes are necessary to bring inflation down. Read more.
Speaking to the Halifax Chamber of Commerce on Thursday, Macklem said high inflation increasingly reflects domestic pressures on prices.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
“Canadians experienced these pressures first-hand when trying to book a campsite or reserve a table at their favourite restaurant,” Macklem said, according to a prepared text of his speech released in Ottawa.Article content As the Bank of Canada monitors inflation and the effects of higher interest rates, the governor said it will be paying close attention to its core measures of inflation, which tend to be less volatile than the overall inflation rate.
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