OTTAWA — Bank of Canada Governor Tiff Macklem says the central bank will be deciding whether to exert patience at its next rate meeting or hike rates further.
"What I expect it'll focus on is, do we stay with a policy rate of five per cent and let past interest rate increases work through the economy and relieve price pressures or is the weight of the evidence of all those economic indicators, when you put them together, is it telling us that more action is needed to restore price stability," Macklem said.
The Bank of Canada held its key interest rate steady last month, but signalled it hasn't closed the door to more rate hikes if needed.
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