Categories: Markets

Limiting the placement of funds is the right action for the economy – Tiff Macklem

In an interview with the Wall Street Journal, the Governor of the Bank of Canada (BoC), Tiff Macklem, said limiting the placement of funds is the right move for the Canadian economy, according to Reuters reported.

Macklem further noted that the economy still needs a “considerable amount of monetary support” and added that he feels comfortable withdrawing the extraordinary stimulus extended during the pandemic due to the resilience of the national economy.

Market reaction

The pair USD / CAD it rose modestly after these comments and was last seen gaining 0.14% on the day at 1.2082.