BoC Governor Tiff Macklem told a parliamentary committee yesterday that the central bank is “still far from its goal” of ensuring “low, stable, predictable” inflation.
“Inflation has come down in recent months, but we have yet to see a generalized decline in price pressures,” Macklem said. “This tightening phase will draw to a close. We are getting closer, but we are not there yet.”
“We anticipate that (inflation) will stay quite high for the rest of this year. It will start to decline next year,” he noted.