'We are getting closer' to cutting interest rates, Bank of Canada governor tells MPs

The Bank of Canada is getting closer to cutting interest rates as inflation shows signs of coming down and staying down, the central bank's governor, Tiff Macklem, told MPs Thursday.

'We are getting closer' to cutting interest rates, Bank of Canada governor tells MPs
Bank of Canada Governor Tiff Macklem arrives to appear as a witness at a House of Commons Finance Committee in Ottawa on Thursday, May 2, 2024.

The Bank of Canada is getting closer to cutting interest rates as inflation shows signs of coming down and staying down, the central bank's governor, Tiff Macklem, told MPs Thursday.