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Bank of Canada Governor suggests evolving the bank's mandate to tackle modern economic challenges.
Bank of Canada Governor Tiff Macklem says the central bank's mandate should evolve to address a "shock-prone" world, including issues like housing affordability.
While defending the bank's inflation target, Macklem noted its success during the pandemic but acknowledged the need for a more adaptable approach to handle supply chain disruptions, trade conflicts, and extreme weather events.
The Bank of Canada is exploring ways to expand its mandate and improve data collection methods to better respond to economic challenges.
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El gobernador del Banco de Canadá sugiere evolucionar el mandato del banco para abordar los desafíos económicos modernos.