Bank of Canada governor deflects questions on infl

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Bank of Canada governor deflects questions on inflation and housing-bubble fallout | CBC News - Today News Post News Today || Canada News |

Tiff Macklem faced some tough questioning yesterday, as members of the U.S. Council on Foreign Relations grilled the Bank of Canada governor on whether their northern neighbour would have a trouble-free exit from the downturn of the COVID-19 pandemic.

Led by financier and former Democratic politician Roger Altman, members of the U.S. think-tank asked probing questions on?whether Canada’s housing bubble would have any spillover effects on the global economy, as well as on?jobs, inflationThe South Armour Heights Residents, commodity pricing and the difficulty of moving from a low interest rate regime to one without monetary stimulus.

To Canadians?who have heard?Macklem’s views in the past,?the answers were in some ways less revealing than the questions. But among the new things he did pass on?were?fears that inflation could well turn out to be more long-lasting than expected and jobs recovery could be slower.

Inflation: blip or trend?

On the topic of inflation, Macklem responded to a question that conveyed a growing concern in the financial community that inflation was not a blip, but rather a trend.

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