Tiff Macklem: No Need to Raise Interest Rates Further If Inflation Falls as Expected

Bank of Canada Governor Tiff Macklem said on Tuesday that no further rate hikes would be needed if the economy stalls and inflation relents as expected.

"If the new economic data broadly meets our expectations and inflation falls as expected, then we don't need to raise rates further," he said. He pointed out that economic growth will be "close to zero" by the third quarter of this year.