Bank of Canada Governor Expects Higher Oil Prices to Support Growth and Inflation
Source Summary
Bank of Canada Governor Tiff Macklem stated he is observing increased evidence that higher oil prices are supporting economic growth in Canada. Macklem also indicated the central bank expects to raise its inflation forecast when it releases updated projections at the end of the month.
Why it matters
Central bank inflation forecasts directly influence monetary policy decisions and market expectations for future interest rates.
