Economics
Macklem Says Bank of Canada Will Maintain Extraordinary Stimulus
- Governor sees growth shifting to ‘slow and choppy’ phase
- Comments underscore policy support for duration of recovery
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The Bank of Canada plans to maintain extraordinary stimulus for as long as needed to help the nation’s economy fully recover from the crisis, Governor Tiff Macklem said.
In spite of the strong rebound in recent months, growth is likely to decelerate as the economy enters a recuperation phase that is expected to be “slow and choppy,” Macklem said Thursday in a speech by video-conference to the Canadian Chamber of Commerce.