Bank of Canada governor tells committee federal spending is ‘not really’ adding to inflation
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Bank of Canada governor tells committee federal spending is ‘not really’ adding to inflation ANALYSIS 4 NOVEMBER 2026 Tiff Macklem declined to say whether missed fiscal targets threaten investor confidence as MPs pressed him days before the federal budget.
‘Table 2, page 40’ Jansen opened by tying the bank’s rate increase to government spending.
Macklem pointed her to the monetary policy report: “That’s Table 2, page 40.” When Jansen asked whether he was suggesting there was no inflationary pressure from current federal spending, Macklem began to explain that “the economy is currently in a situation of excess supply” before the chair ended the round.
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Signal breakdown
Heuristic (v1/v3)
-0.40 · CENTER-LEFT
ML v2 (DistilBERT)
0.280 · RIGHT
Ensemble
0.280 · CENTER RIGHT
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Bank of Canada governor tells committee federal spending is ‘not really’ adding to inflation
ANALYSIS
4 NOVEMBER 2026
Tiff Macklem declined to say whether missed fiscal targets threaten investor confidence as MPs pressed him days before the federal budget.
VIEW BIO
Federal spending is “not really” adding to inflation in the Bank of Canada’s latest forecast, Governor Tiff Macklem told MPs, and he would not say whether missed fiscal targets put investor confidence at risk.…
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