BOC Governor Macklem responds to questions on economy

Macklem is speaking live to the Canadian chamber of commerce. Macklem is speaking live to the Canadian chamber of commerce. Key comments Covid recovery phase is chance to make long overdue gains in Canadian productivity.

Productivity growth is vital to economic growth, increasing wages without raising unit labour costs. US capital has moved to higher-productivity sectors in larger amounts than in Canada, ‘has been more nimble’. Expect that business investment will grow faster in Canada than in US. Some evidence global supply chain problems may have peaked.

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