Bank of Canada will dampen inflation if high prices persist- media

·1-min read
FILE PHOTO: A sign is pictured outside the Bank of Canada building in Ottawa

OTTAWA (Reuters) - The Bank of Canada will tackle inflation to get it back on target if temporary price pressures turn persistent, Governor Tiff Macklem said in a media interview published on Thursday.

Macklem told the Canadian Press that as the economy reopens, certain imbalances are causing sharp price movements, but that the central bank believes they are temporary and will work their way out.

"But if they don't, and if we start to think that inflation will remain above our target range, we have the mandate, we have the tools and we will control inflation. We will get it back to target," he said.

(Reporting by Julie Gordon in Ottawa; editing by John Stonestreet)

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