Addressing Supply Issues Not Substitute for Rate Hikes, Says Bank of Canada Official

[Epoch-Times-Bot]

Addressing Supply Issues Not Substitute for Rate Hikes, Says Bank of Canada Official

Bank of Canada senior deputy governor Carolyn Rogers says addressing supply problems could help ease inflationary pressures but such policies wouldn’t substitute the need for higher interest rates.
Rogers and Bank of Canada governor Tiff Macklem appeared before the Senate banking committee Tuesday evening and responded to questions from senators about the bank’s monetary policy and the state of the economy.
In his opening remarks, Macklem reiterated the need for higher interest rates to cool inflation but said the end of the monetary policy tightening cycle was drawing closer to an end.
“If we don't do enough, Canadians will continue to endure the hardship of high inflation,” Macklem said....

Source: Addressing Supply Issues Not Substitute for Rate Hikes, Says Bank of Canada Official

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