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Bank of Canada Says Rates May Be ‘Restrictive Enough’
Bank of Canada Governor Tiff Macklem said policymakers may have done enough to tame inflation, reinforcing market and economist expectations that interest rates have peaked. In his first speech since leaving borrowing costs unchanged in October, Macklem said the economy is expected to remain weak for the next few quarters, which means “more downward pressure on inflation is in the pipeline.” “This tightening of monetary policy is working, and interest rates may now be restrictive enough to get us back to price stability,” he said, reiterating the central bank is prepared to raise rates again “if high ... (full story)