BoC's Macklem: Focus on bringing inflation back to target without choking economy

Bank of Canada Governor Tiff Macklem said on Monday that the BoC was currently focused on bringing inflation back down to target without choking off Canada's economic recovery, in a post-Framework Review speech alongside Canadian Finance Minister Chrystia Freeland. We are not in a situation right now where we could probe for maximum sustainable employment, added Macklem. 

Market Reaction

USD/CAD has pulled back from highs in recent trade but continues to trade to the north of the 1.2800 level, having seemingly not taken much notice of Macklem's remarks.