OTTAWA (Reuters) – Canada needs higher interest rates, though how high those rates go will depend on how the economy responds and how the outlook for inflation evolves, Bank of Canada Governor Tiff Macklem said on Wednesday.
“The economy needs higher rates and can handle them,” Macklem told a Senate committee, reiterating recent comments. “How high rates go will depend on how the economy responds and how the outlook for inflation evolves.”
(Reporting by Julie Gordon in Ottawa; Editing by Chris Reese)
