Comments from the BOC governor in the audience Q&A:
- Canada had the fiscal and monetary policy space to provide very substantial support during the pandemic
- Canadian government debt remains low by G7 standards
- We expect inflation to rise to 3% in the coming months on base year effects
- We expect inflation to come down later because large parts of the economy are very weak
- Inflation will go up temporarily and then start to come down
Macklem will hold a media Q&A at the bottom of the hour.