Bank of Canada governor Tiff Macklem is in a kind of limbo. He’s suddenly halfway through his seven-year mandate. It’s too soon to think about legacy, especially when the fight that will define it remains unfinished. The Bank of Canada’s latest forecasts have inflation at or near the two per cent target sometime in 2025. That means he should be able to start cutting interest rates this year. But he’s unsure when, never mind by how much. Inflation, at 3.4 per cent, remains too high for a central bank whose only job is to orchestrate price stability. And everyone knows what happens to heroes who dust themselves off too soon: they get pulled back into a fight by the villain who refuses to die.
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
Carmichael: Can the Bank of Canada change the expectations channel?
Panier Bleu’s future uncertain as Quebec government mulls pulling funding
1Password acquires Kolide
Waterloo-based Teledyne to supply Ukraine with more than 800 drones
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.