Central Banks
Macklem Sees Little Inflation Impact From Immigration Reform
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Bank of Canada Governor Tiff Macklem said that while the federal government’s decision to trim immigration targets would have a modest effect on growth, the impact on inflation is likely limited.
On Thursday, Prime Minister Justin Trudeau’s government announced it would lower the target for the number of permanent residents in 2025 and 2026. Coupled with a planned reduction in the number of temporary foreign workers and students, the government expects the population to turn flat after years of record growth.