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Bank of Canada Gov. Macklem: Current Rate of Inflation ‘Too High’
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wsj.comOTTAWA—Bank of Canada Gov. Tiff Macklem said Canada’s current rate of inflation “is too high” and requires a pivot in monetary policy to return increases in the consumer-price index back to the central bank’s 2% target.
“The economy will need higher interest rates to moderate growth in spending and bring demand in line with supply,” Mr. Macklem said in a speech Wednesday.
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