OTTAWA (Reuters) – The Bank of Canada still needs to hike interest rates further to fight stubbornly high inflation, Governor Tiff Macklem said on Tuesday, reiterating that “we are getting closer, but we are not there yet.”
In opening remarks to the Senate’s banking, trade and economy committee, he said the central bank was still far from the goal of low, stable and predictable inflation.
(Reporting by David Ljunggren and Julie Gordon; Editing by Leslie Adler)
