Bank of Canada governor says rate hikes still on table as global volatility rises

are working to bring down inflation, but with new geopolitical unrest in the Middle East and core inflation proving “sticky,” he did not rule out further rate hikes.“The fight against inflation is not over,” Macklem said from Marrakesh, Morocco, where he is convening with international counterparts atMacklem said he believes Canada can return to the central bank’s target inflation of two per cent without triggering a major economic slowdown.

“We’re not expecting a recession in Canada,” Macklem said, adding that the Bank of Canada will release its outlook for the economy on Oct. 23 with the next interest rate decision.Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful.

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