Macklem tells MPs fiscal and monetary policy are not at odds

The Bank of Canada governor told the House of Commons finance committee he comments on fiscal policy only when spending nears unsustainable levels or works against inflation control. "I don't think either of those criteria are met," he said.

— Tiff Macklem

Key interest rate

2.5 %

The Bank raised its key rate by a quarter-point to 2.5 per cent last week, citing inflation pressures from the war in the Middle East.

And us?

What's next

The budget is due Thursday. Conservative Leader Pierre Poilievre has urged the government to cut spending to help get costs under control.