Tiff Macklem says BoC will release outlook for output and inflation in July GlobeBusiness
Tiff Macklem, in his first public appearance as governor of the Bank of Canada, said on Tuesday that the central bank would provide an updated assessment of the outlook for output and inflation at its July rate decision.
Macklem, who officially took over on June 3, also said that while job growth was expected to accelerate across Canada as more businesses reopen, not all jobs lost to COVID-19 shutdowns would return. Canada has lost millions of jobs since March and the unemployment rate hit a record high in May.“For now and the foreseeable future, we are focused on providing monetary stimulus and delivering low interest rates to support the recovery,” Macklem told the committee.
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