The governor of the Bank of Canada has laid down an argument for the central bank's actions during the pandemic, hours after the country's opposition leader suggested the bank stay in its inflation-targeting lane.
The Bank of Canada enacted extraordinary measures during the pandemic to keep credit flowing and encourage low interest rates to spur demand.
Macklem echoed calls earlier in the day by his American counterpart that leaving untouched entrenched inequalities holds back some citizens and economies from realizing their full potential. But before that, the federal government has to renew the Bank of Canada's mandate, which has happened every five years over the last three decades.
The inflationary roller-coaster has sparked calls on Parliament Hill from the Opposition Conservatives that the central bank's own actions, coupled with historic deficits, are driving up the cost of living.
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