More from BOC’s Macklem
BOC Governor Macklem had no comments on the economy in his prepared remarks, but is sharing some of his views after his speech:
- Factors impacting inflation or more persistent than we previously thought
- Expects supply factors that are contributing to inflation, will work their way through
- Not seeing evidence that wages are becoming an independent source of inflation
- It may take a little longer than previously thought to work through the frictions in the labour market