BoC’s Macklem says Canada has not raised rates yet as energy prices pose challenges
Bank of Canada (BoC) Governor Tiff Macklem spoke during a panel discussion at the annual meetings of the IMF and World Bank in Bangkok. Macklem said that Canada has not hikes interest rates yet but the longer elevated energy prices go, the harder that gets, Reuters reported on Friday.
"We haven't raise our rates yet. We've been looking through the increase in energy prices, but the longer this goes, the harder that gets,” said Macklem.
Market reaction
At the time of writing, the USD/CAD pair is down 0.07% on the day at 1.4175.
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