Bank of Canada Governor Tiff Macklem said policymakers may have done enough to tame inflation, reinforcing market and economist expectations that short-term rates have peaked.
In his first speech since leaving the bank’s overnight rate unchanged at 5% 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.”
Read More : Bank of Canada Indicates Rates Could Be ‘Restrictive Enough