Bank of Canada Governor Tiff Macklem said he is comfortable with pulling back on the extraordinary stimulus extended during the pandemic because of the domestic economy’s resilience, including a strong bounce back from a second wave of Covid-19 infections at the beginning of the year.
Canada’s central bank last month slowed the pace of its bond-buying program from 4 billion Canadian dollars, or the equivalent of $3.31 billion, each week, to C$3 billion dollars.
In an interview with the “Wall Street Journal”, Governor Tiff Macklem said that the economy still needs a “considerable amount of monetary support” and added that he is comfortable with pulling back extraordinary stimulus extended during pandemic because of the domestic economy’s resilience.
Bank of Canada set to slow its bond buying ahead of G7 peers
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