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Faster QE Is On the Menu at Bank of Canada: Decision Day Guide

  • Macklem expected to outline purchase plans for Trudeau debt
  • Central bank seen keeping rates at 0.25% for at least 2 years
Tiff Macklem speaks at an Ottawa news conference on May 1 announcing his appointment as governor of the Bank of Canada.

Tiff Macklem speaks at an Ottawa news conference on May 1 announcing his appointment as governor of the Bank of Canada.

Photographer: David Kawai/Bloomberg

Bank of Canada Governor Tiff Macklem gets a chance on Wednesday to say how much of the government’s record spending he intends to finance.

Macklem, in his first policy decision since taking over as governor June 3, will need to recommit to large-scale asset purchases in order to keep up with an unexpectedly large jump in government spending. The bank releases its rate setting and Monetary Policy Report at 10 a.m. in Ottawa, with a press conference to follow at 11:15 a.m.