OTTAWA (Reuters) – Lower-income Canadians will be disproportionately affected by the slowdown in economic activity that is needed to rebalance supply and demand to ease inflationary pressures, Bank of Canada Governor Tiff Macklem said on Monday.
“Slowing economic growth will disproportionately affect our most vulnerable households,” he said in opening remarks at the Conference on Diversity, Equity and Inclusion in Economics, Finance and Central Banking.
“But once we rebalance demand and supply, growth will pick up, our economy will grow solidly, and the benefits of low and predictable inflation will be restored,” he added.
(Reporting by Steve Scherer and Julie Gordon in Ottawa)
