BoC's Macklem: Negative interest rates would be disruptive at current time

BoC’s Macklem: Negative interest rates would be disruptive at current time

Bank of Canada 2016 Large

Following the Bank of Canada’s decision to leave its policy rate unchanged at 0.25% as expected, Governor Tiff Macklem and Senior Deputy Governor Carolyn A. Wilkins are delivering their remarks on the policy outlook in a press conference.

Key quotes

“Negative interest rates would be disruptive at the current time.”

“The bar to have negative rates would be very high.”

“Negative rates are in the toolbox but we are not currently discussing them.”

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About Tiff Macklem via bankofcanada.ca

“Tiff Macklem was appointed Governor of the Bank of Canada, effective June 3, 2020, for a term of seven years. During the Global Financial Crisis, Mr. Macklem was Associate Deputy Minister at the Department of Finance, and served as Canada’s representative at the G7, G20 and Financial Stability Board. In July 2010, Mr. Macklem returned to the Bank and was appointed Senior Deputy Governor.”

Credit: FX Street

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