Bank of Canada Macklem says a half-point rate hike will be in play in the June decision

OTTAWA-Bank of Canada Governor Tiff Macklem said senior officials are likely to consider another half-point increase in its primary interest rate when considering ahead of the central bank’s next June 1 political decision.

In testimony Monday to Canadian lawmakers, Mr Macklem gave a glimpse of how aggressive central banks are prepared to be to cool inflation, which was already at elevated levels, and then moved into higher gear after the war in Ukraine raised fuel and food prices and other goods.

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