Macklem: Bank of Canada Will Set Rates by Canadian Economy, Not the Fed or Markets
Speaking after a Halifax address, the BoC governor stressed domestic conditions—not U.S. policy or market bets—will drive Canadian rate decisions.
What to know
- Macklem reiterated that the Bank of Canada's rate decisions will be driven by domestic economic conditions, not the Fed or market expectations.
- The comments came after a speech in Halifax on Monday and cited structural differences between the Canadian and U.S. economies.
- Coverage was largely duplicated across outlets (Financial Post, Yahoo Finance, WSJ) without new detail beyond the original remarks.
- Limited online reaction was skeptical, with commenters questioning the statement's substance and recalling Macklem's earlier low-rate policy.
Tiff Macklem Governor, Bank of CanadaFederal Reserve U.S. central bankBank of Canada Governing Council BoC's rate-setting body
How it unfolded 2 developments, newest first · click a bar or a number to jump articlespostscomments
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Reddit thread on Macklem's remarks turns skeptical
A repost of the Financial Post story on r/economy or similar drew comments questioning why Macklem needed to state the obvious and recalling his past record of holding rates low.
“Transient Tiff! Wasn't he the guy that held rates comically low so JT could keep printing money and giving it away for likes on social media?”
— GreatGreenGobbo -
It goes without saying, why is he even mentioning it. Does he want a medal to do the only logical approach? Also the market cannot be separated from the economy, there's no such thing as a 'real economy' separated from the capital markets.
1 more of the top 2 · 2 posts in this stretch
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Transient Tiff! Wasn't he the guy that held rates comically low so JT could keep printing money and giving it away for likes on social media?
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WSJ frames BoC as caught between competing policy pressures
A Wall Street Journal item picked up via Yahoo Finance characterized the Bank of Canada as navigating competing domestic and external forces on rate policy, based on Macklem's comments.
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first by Yahoo Finance, 2d ago · also Financial Post, Yahoo! Finance Canada
2 more headlines
- Bank of Canada to make rate decisions based on domestic economy, not markets or the Fed, says Macklem Financial Post · 2d ago
- Bank of Canada to make rate decisions based on domestic economic situation, not markets or the Fed, says Macklem Yahoo! Finance Canada · 2d ago
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background
Macklem says BoC rate calls will follow domestic economy, not Fed — After delivering a speech in Halifax, Bank of Canada Governor Tiff Macklem told reporters the governing council will continue basing monetary policy on Canadian economic realities rather than Federal Reserve decisions or market predictions, pointing to key differences between the Canadian and U.S. economies.