{
  "id": 18340536,
  "title": "BoC’s Macklem keeps rate hike door open, downplays fiscal risks",
  "url": "https://urgent.news/2026/11/05/bocs-macklem-keeps-rate-hike-door-open-downplays-fiscal-risks",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-05T16:04:38.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/bocs-macklem-keeps-rate-hike-door-open-downplays-fiscal-risks-202611051604"
  },
  "original_language": "en",
  "account": "Bank of Canada Governor Tiff Macklem suggested that further interest rate hikes might be necessary during a recent appearance in the House of Commons. He maintained that fiscal policy isn't currently hindering efforts to reduce inflation. Today, the Canadian Dollar (CAD) showed its strongest performance against the Australian Dollar. A heat map provided by the BoC displayed the percentage changes in major currency pairs, with the Canadian Dollar on the left and other currencies on the top row. The Bank of Canada, located in Ottawa, is responsible for setting interest rates and managing monetary policy in Canada. This is done during eight scheduled meetings annually, along with ad-hoc emergency meetings when needed. The BoC's main objective is to maintain price stability through inflation rates, which should hover between 1-3%. To achieve this, the BoC primarily uses interest rates as a tool, raising or lowering them accordingly. Other methods, such as quantitative easing and tightening, can also be employed. In extreme cases, a policy tool called Quantitative Easing (QE) might be enacted. QE involves the BoC printing Canadian Dollars to buy assets, typically government or corporate bonds, from financial institutions. This usually results in a weaker CAD. Conversely, Quantitative Tightening (QT) occurs after an economic recovery and rising inflation, when the BoC stops buying assets and no longer reinvests maturing bond principals. QT tends to support the Canadian Dollar.",
  "summary": "Bank of Canada (BoC) Governor Tiff Macklem appeared in the House of Commons, saying there may be a need to raise rates further.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}