How high interest rates go will depend on economy, inflation outlook -BoC governor

2022.04.28 02:02

FILE PHOTO: Bank of Canada Governor Tiff Macklem takes part in a news conference in Ottawa, Ontario, Canada April 13, 2022. REUTERS/Blair Gable

OTTAWA (Reuters) – Canada needs higher interest rates, though how high those rates go will depend on how the economy responds and how the outlook for inflation evolves, Bank of Canada Governor Tiff Macklem said on Wednesday.

“The economy needs higher rates and can handle them,” Macklem told a Senate committee, reiterating recent comments. “How high rates go will depend on how the economy responds and how the outlook for inflation evolves.”

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