Arab Canada News
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Published: August 17, 2022
The Governor of the Bank of Canada said that inflation in Canada may have peaked but is still very high, adding that the central bank is determined to bring price increases back to its 2 percent target level.
Tiff Macklem wrote in comments published by the National Post on its website on Tuesday, "Inflation in Canada has slightly decreased, but it is still very high."
Macklem's comments came on the same day that official data showed inflation in Canada dropped to 7.6 percent in July from 8.1 percent in June.
He said, "The good news is that inflation appears to have peaked... The bad news is that inflation will likely remain very high for some time."
Today’s inflation number is a good sign.
— Bank of Canada (@bankofcanada) August 16, 2022
But the cost of living is still too high.
Governor Macklem shares his insights on the steps we’re taking to cool the #economy and lower inflation in a new #OpEd published in the @nationalpost.https://t.co/XivmBSL3zD #cdnecon
Tuesday, 01 July 2025
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