Tiff Macklem: Opening statement - Standing Senate Committee on Banking, Trade and Economy
By Bank for International Settlements (BIS)
He explains that inflation remains high and widespread, the economy is overheated, and higher rates are beginning to cool housing and big-ticket spending—but more tightening is still needed. The Bank expects growth to stall over coming quarters as supply–demand imbalances ease, with inflation falling gradually back to 2% by end-2024.
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