BoC's Macklem Says Rate Policy Still Supports Canadian Economy
Bank of Canada Governor Tiff Macklem told lawmakers the economy is showing “impressive resilience” and that policy no longer needs to be as accommodative. He said policy remains non-restrictive despite last week's quarter-point hike to 2.5%.
Bank of Canada Gov. Tiff Macklem tells lawmakers that the Canadian economy is showing "impressive resilience," and as a result rate policy no longer needs to be as accommodative. Macklem adds that, even with last week's quarter-point hike to 2.5%, rate policy "is still not restraining growth. We've…