← Back to Home

Bank of Canada head says fiscal policy not hitting fight against inflation

Reuters
Bank of Canada head says fiscal policy not hitting fight against inflation

OTTAWA, Nov ‌3 (Reuters) - The Canadian government's current ​fiscal policy ‌is not making ‌it harder for the Bank of Canada ‌to fight inflation, Governor Tiff Macklem told the House of ⁠Commons finance committee ‌on Tuesday.

Macklem said ⁠the bank would only ​comment on government policy if it ​had become unsustainable ​or ‌if it was making ​it harder ⁠to get inflation ‌back to the ​bank's ​2% target.

"In the current circumstances, I don't think either of those ‌criteria are met," he said, reiterating ‌that ​more interest rate hikes might be needed.

(Reporting by Promit Mukherjee, editing ‌by David Ljunggren)