Bank of Canada governor Tiff Macklem says flexibility is key as the bank prepares to review its rate-setting framework in a world undergoing an economic sea change.
Macklem on Tuesday discussed the central bank’s upcoming mandate review in remarks prepared for a speech in Mexico City today as the Banco de México celebrates its 100th anniversary.
He noted that there is no suggestion the current two percent inflation target would be considered as part of the mandate review.
The governor touched on the shift to an inflation-targeting framework in the 1990s and suggested adaptation is required to address new economic trends and global trade changes….