BoC Governor Macklem reiterates that there could be a need to raise the policy rate further
ORIGINAL · NewsquawkBoC Governor Macklem reiterates that there could be a need to raise the policy rate furtherRead originalHide original
Outlook for inflation has deteriorated. With the war in the Middle East persisting, global oil prices have increased and are expected to remain higher for longer, which is hitting Canadians at the gas pump and increasing costs for many businesses.
Macklem reiterated that a further rate increase could be needed as the report described a deteriorating inflation outlook and higher oil prices affecting households and businesses.
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Outlook for inflation has deteriorated. With the war in the Middle East persisting, global oil prices have increased and are expected to remain higher for longer, which is hitting Canadians at the gas pump and increasing costs for many businesses.
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