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MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

(MNI) OTTAWA
Bank of CanadaCentral Bank NewsPolicy NewsHomepageCanadaFiscalGovernment sector Bank of Canada Market NewsBriefPolitical RiskStoryRegionNorth America

Canadian Conservative Party Leader Pierre Poilievre, well ahead in polls before an election due late next year, on Friday said he would curtail the central bank's QE policy in favor of a strict focus on the 2% inflation target.

“The Bank of Canada will once again have a mandate to keep inflation low, rather than creating cash through scams like quantitative easing. They will instead get back to the core job” of targeting 2% inflation, he said during a speech to a Vancouver business audience. Governor Tiff Macklem told MNI Wednesday the Bank is reviewing its pandemic era stimulus but the overall policies worked. (See: MNI INTERVIEW2:Macklem Sees Time To React To Neutral Rate Rise)

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Canadian Conservative Party Leader Pierre Poilievre, well ahead in polls before an election due late next year, on Friday said he would curtail the central bank's QE policy in favor of a strict focus on the 2% inflation target.

“The Bank of Canada will once again have a mandate to keep inflation low, rather than creating cash through scams like quantitative easing. They will instead get back to the core job” of targeting 2% inflation, he said during a speech to a Vancouver business audience. Governor Tiff Macklem told MNI Wednesday the Bank is reviewing its pandemic era stimulus but the overall policies worked. (See: MNI INTERVIEW2:Macklem Sees Time To React To Neutral Rate Rise)