# Macklem: Higher Oil Prices Boosting Canadian Growth

> Bank of Canada Governor Tiff Macklem says rising oil prices are fueling Canadian economic growth and inflation.
- Title: Macklem: Higher Oil Prices Boosting Canadian Growth | Shortify
- Summary: Bank of Canada Governor Tiff Macklem says rising oil prices are fueling Canadian economic growth and inflation. Bank of Canada Governor Tiff Macklem expects…
- Keywords: tiff macklem, bank of canada, oil prices, economic growth, inflation, canada, money, business, Macklem, Higher, Oil, Prices
- Source: Financialpost — https://financialpost.com/news/economy/macklem-higher-oil-prices-growth-inflation
- Read time: 1 min
- Topics: tiff macklem, bank of canada, oil prices, economic growth, inflation, canada, money, business
## 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.
## Key takeaway

Bank of Canada Governor Tiff Macklem expects higher inflation as oil prices support Canadian economic growth.