Bank of Canada governor Tiff Macklem had some optimistic comments when he met with reporters Wednesday following his latest Monetary Policy Report. And a strong U.S. economy, where most Canadian exports go, means businesses here will be looking to gear up for external markets, too. Bank of Canada governor Tiff Macklem says he is optimistic about the Canadian economy but it is not yet time for interest rate cuts. In an economy where housing plays such a big role, that could be a big setback, especially while total employment and business investment are still running significantly below pre-pandemic capacity. Instead Macklem has chosen a midpoint between pumping up the economy and letting out a little air.

Source: CBC News July 15, 2021 08:00 UTC