‘We need to use the pandemic experience to prepare for future crises’: Macklem
Bank of Canada governor Tiff Macklem says the central bank is preparing for a future that looks more uncertain and more prone to shocks.
“We need to use the pandemic experience to prepare for future crises,” Macklem said in a prepared text of his speech. The Bank of Canada is conducting a review of the policy actions it took to restore financial stability and support the economy during the pandemic that it plans to publish along with an assessment of an independent panel of experts.
“All of a sudden, people couldn’t afford the things they need. And while inflation is low once again, many prices are still a lot higher than they were before the pandemic. So people feel ripped off. And that erodes public trust in our economic system,” he said in his speech.
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Bank of Canada preparing for more uncertain, shock-prone futureBank of Canada governor Tiff Macklem says the central bank is preparing for a future that looks more uncertain and more prone to shocks.
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Bank of Canada preparing for more uncertain, shock-prone futureVANCOUVER — Bank of Canada governor Tiff Macklem says the central bank is preparing for a future that looks more uncertain and more prone to shocks.
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