OTTAWA — The Bank of Canada may adjust the pace of interest rate cuts if warranted, governor Tiff Macklem said on Wednesday after announcing a third consecutive interest rate cut.
The quarter percentage point rate reduction was widely expected by forecasters, given ongoing softness in the economy and easing inflation.
In his written remarks, governor Tiff Macklem said the central bank’s decision reflected two considerations.
“First, headline and core inflation have continued to ease as expected,” Macklem said.
“Second, as inflation gets closer to target, we want to see economic growth pick up to absorb the slack in the economy so inflation returns sustainably to the two per
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