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Following the Bank of Canada’s decision to leave its policy rate unchanged at 0.25% as expected, Governor Tiff Macklem and Senior Deputy Governor Carolyn A. Wilkins will be delivering their remarks on the policy outlook in a press conference at 1500 GMT.

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Bank of Canada leaves policy rate unchanged at 0.25% as expected.

In its policy statement, the BoC noted that there is an ongoing and significant slack in the Canadian economy and added that the gap between the actual and potential output is not expected to close until 2023.

About Tiff Macklem via bankofcanada.ca

“Tiff Macklem was appointed Governor of the Bank of Canada, effective June 3, 2020, for a term of seven years. During the Global Financial Crisis, Mr. Macklem was Associate Deputy Minister at the Department of Finance, and served as Canada’s representative at the G7, G20 and Financial Stability Board. In July 2010, Mr. Macklem returned to the Bank and was appointed Senior Deputy Governor.”