From Financialpost · · 1m
Macklem: Higher Oil Prices Boosting Canadian Growth
Bank of Canada Governor Tiff Macklem says rising oil prices are fueling Canadian economic growth and inflation.
In brief
Bank of Canada Governor Tiff Macklem says rising oil prices are fueling Canadian economic growth and inflation. Bank of Canada Governor Tiff Macklem expects higher inflation as oil prices support Canadian economic growth. Originally reported by Financialpost.
Macklem speaks at IMF event
Bank of Canada Governor Tiff Macklem spoke at the IMF and World Bank Group meeting in Bangkok on October 16, 2026.
Higher oil prices boost growth
Macklem says higher oil prices are supporting Canadian economic growth through increased exports and government revenue.
Economic impact of oil prices
Higher oil prices boost corporate profits and Alberta's expected surplus while raising inflation concerns.
Inflation forecast update
Macklem expects the Bank of Canada to raise inflation forecasts due to higher oil prices and economic growth.
Potential rate hike
The Bank of Canada may raise borrowing costs if oil prices remain high and inflation pressures spread.
The short version
Bank of Canada Governor Tiff Macklem expects higher inflation as oil prices support Canadian economic growth.
