“Interest rates are certainly not going back to the emergency-low levels we had during COVID. They’re unlikely even to go back to the pre-COVID levels,” Mr. Macklem said in response to a question from Liberal MP Julie Dzerowicz about whether Canadians needed a “reality check” on the trajectory of monetary policy.
“When you look at our forecast right now, inflation is coming down pretty gradually. So even when we start reducing interest rates, it’s likely to be a pretty gradual path.”
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Tags: Bank of Canada, Interest rates, Tiff Macklem, inflation, dollar, policy rate, economy