Macklem: Global imbalances, growth and stability

From bankofcanada.ca

Good afternoon and thank you for the invitation. It’s a pleasure to be here with Paris Europlace and the Chambre de commerce France-Canada. Six weeks ago, I was here in Paris with G7 finance ministers and central bankers. Much of our meeting focused on the conflict in the Middle East and its implications for near-term growth and inflation. The US-Iran agreement signed last week is a very welcome development and global energy prices have begun to come down, though much remains to be worked out. We also discussed medium-term growth. We expressed concern that global imbalances are widening again, with some countries ... (full story)