Macklem Warns of Firmer Inflation, Uncertainty About Impact of Tariffs

Bank of Canada Governor Tiff Macklem reiterated that he sees inflation running hotter than expected, while saying employment appears to be holding up outside of trade-intensive sectors.

In a wide-ranging speech on how the trade war is impacting the Canadian economy, Macklem flagged uncertainty about how tariffs and counter-tariffs may impact price pressures moving forward, repeating that “we can’t let a tariff problem become an inflation problem.”