BOC’s Macklem: ‘muted’ spillover of global financial stress in Canada

(Reuters) – There has been a little spillover from the banking stress in the U.S. and Europe in Canada, but it has been quite limited, Bank of Canada Governor Tiff Macklem said on Thursday, adding that there was a need to actively monitor risks to financial system.

“You’re seeing a little bit of spillover to Canada, but honestly, it’s really been quite muted,” Macklem said in Washington when asked about how the country’s financial system had been affected. “And I do think we do need we do need to be vigilant.”

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