Tiff Macklem, in his first public appearance as governor of the Bank of Canada, said on Tuesday the bank remains focused on using its policy tools, including low interest rates, to support the Canadian economy's recovery from the COVID-19 pandemic.
FILE PHOTO: Bank of Canada governor designate Tiff Macklem attends a news conference with Canada's Minister of Finance Bill Morneau and current Bank of Canada governor Stephen Poloz on Parliament Hill in Ottawa, Ontario, Canada May 1, 2020. Macklem will replace Poloz when his term ends in June. REUTERS/Blair Gable/File Photo
He also said the central bank would provide an updated outlook for output and inflation at its July 15 rate decision, officially Macklem’s first, suggesting that the bank would again delay detailed forecasts. Macklem also said that while job growth was expected to accelerate across Canada, not all of the some 3 million jobs lost to COVID-19 shutdowns would return.
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