On a day when the Federal Reserve spooked markets with its tough talk on interest rates, Bank of Canada governor Tiff Macklem says he won’t “rule anything out” when it comes to the central bank’s own interest rate path and taming Canada’s out-of-control inflation.
Macklem spoke to reporters virtually Thursday from Washington, D.C. where he is attending meetings of the International Monetary Fund and World Bank Group, as well as meetings of G7 and G20 central bank governors and finance ministers.
He wouldn’t rule out pushing rates beyond 50 basis points all in one sitting, after moving to lift rates by that amount to one percent just last week, but said he “is prepared to be as forceful as needed.”
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