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Macklem Warns Government Spending Is Hobbling Canada’s Inflation Fight
Bank of Canada Governor Tiff Macklem urged elected officials to consider the inflationary consequences of their spending plans as the central bank tries to cool price pressures. Macklem, speaking to a committee of lawmakers in Ottawa, said the combined fiscal promises of governments mean that spending may increase at a rate that stokes consumer price inflation, complicating the bank’s attempt to bring it back to the 2% target. “It will definitely make it more difficult to get inflation down, if all that spending is spent,” Macklem said Monday evening, adding that elected officials should prioritize policies ... (full story)