Bank of Canada governor Tiff Macklem has told MPs he does not believe the federal government's fiscal policy is getting in the way of the bank's work to bring inflation down, CTV News reports, citing The Canadian Press. Appearing before the Commons finance committee two days before Thursday's federal budget, Macklem declined to comment directly on the government's affordability measures when asked by Conservative finance critic Michael Chong.
He said he only speaks out on government spending when it nears unsustainable levels or works against the bank's inflation efforts, and that neither condition was currently met. The bank raised its key rate by a quarter-point to 2.5 per cent last week, citing inflation pressure linked to the war in the Middle East. Conservative leader Pierre Poilievre has urged the government to cut spending.
Source: CTV News
