Bank of Canada Governor Says Rate Rises Still Possible Should Inflation Fail to Cool

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OTTAWA—Bank of Canada Gov. Tiff Macklem said Thursday that the central bank is prepared to raise interest rates again should headwinds emerge in its effort to wrestle down inflation to its 2% target.

In Washington for the International Monetary Policy’s spring meeting, Mr. Macklem reiterated the central bank’s belief that inflation in Canada is set to slow quickly, from its current 5.2% level as of February to about 3% this summer. Inflation data for March is scheduled for release next week.

However,…

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