Macklem Sounds Alarm on Canadian Inflation, NZ Sees Gradual Stimulus Exit

Canadian inflation remains a concern for policymakers, according to Bank of Canada Governor Tiff Macklem. Inflation is 'too high' and concentrated in gasoline and oil prices, with no clear end in sight, he stated.

Elevated energy prices pose the biggest inflation risk, Macklem noted. The central bank will adjust monetary policy as needed, guided by inflation forecasts and associated risks.

Meanwhile, US Treasury Secretary Janet Yellen is aware of Japan's plans, but did not disclose any details. In New Zealand, Reserve Bank Governor Adrian Orr said a gradual removal of monetary stimulus would be appropriate to return inflation to target while supporting growth and employment.