Tiff Macklem: Release of the Monetary Policy Report
Opening statement by Mr Tiff Macklem, Governor of the Bank of Canada and Ms Carolyn Rogers, Senior Deputy Governor of the Bank of Canada, at the press conference following the monetary policy decision, Ottawa, Ontario, 15 July 2026.
Source: BIS Central Bank Speeches
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DW NOTE
Canada held rates at 2.25% while unemployment has been stuck at 6.5–7% for a year. If the labour market is that soft and inflation is only a problem "provided global oil prices decline," they're not holding for price stability — they're holding because they don't know what else to do.