BoC Expects to Raise Inflation Forecast Significantly, Macklem Says
Governor Tiff Macklem said persistently high crude oil and petroleum product prices will prompt a significant increase to the Bank of Canada’s quarterly inflation forecast this month. New quarterly inflation and growth forecasts will feed into the BoC’s rate decision.
Bank of Canada Governor Tiff Macklem said on Saturday that the central bank expects to significantly raise its quarterly inflation forecast this month, citing persistently high crude oil and petroleum product prices. The BoC’s new quarterly forecasts for inflation and growth will feed into its rate decis…