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Bank of Canada Acknowledges Short-Term Inflation Risks Ahead of Rate Decision

4/19/2026

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Summary

Story summary

Speaking from Washington during IMF meetings, Bank of Canada Governor Tiff Macklem said the central bank can accept a short-term rise in inflation.
Macklem warns that longer-term inflation expectations, if elevated, could hinder returning to the 2% target.
Energy supply issues have spurred market speculation about rate hikes.
The Bank of Canada will announce its next rate decision on April 29 after the Business Outlook Survey.

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Story summary

Speaking from Washington during IMF meetings, Bank of Canada Governor Tiff Macklem said the central bank can accept a short-term rise in inflation.
Macklem warns that longer-term inflation expectations, if elevated, could hinder returning to the 2% target.
Energy supply issues have spurred market speculation about rate hikes.
The Bank of Canada will announce its next rate decision on April 29 after the Business Outlook Survey.