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MNI: BOC Says Forecast Resilient To Lower Population Target

Governor Tiff Macklem spoke to reporters from IMF meetings.

MNI (OTTAWA) - Governor Tiff Macklem said Friday the Bank of Canada’s economic projections appear intact after the government announced a sharp reduction of immigration targets that ministers said would help tame a housing squeeze.

“I wouldn’t overplay the difference between our assumptions and the various announcements by the government,” Macklem told reporters on a call-back from IMF meetings in Washington. Bank officials are "digesting" the details of the government's announcement Thursday that record population growth will slow or stall in the next few years, he said.

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MNI (OTTAWA) - Governor Tiff Macklem said Friday the Bank of Canada’s economic projections appear intact after the government announced a sharp reduction of immigration targets that ministers said would help tame a housing squeeze.

“I wouldn’t overplay the difference between our assumptions and the various announcements by the government,” Macklem told reporters on a call-back from IMF meetings in Washington. Bank officials are "digesting" the details of the government's announcement Thursday that record population growth will slow or stall in the next few years, he said.

Keep reading...Show less