Trudeau Rival Vows to Fire Bank of Canada Gov. Macklem

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The presumptive frontrunner to take over as leader of Canada’s Conservative Party has vowed to fire Bank of Canada Gov. Tiff Macklem if conservatives form Canada’s next government.

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Pierre Poilievre said Wednesday at a party event that officials responsible for allowing inflation to reach multidecade highs should be held accountable. The next Canadian election is not scheduled until 2025.

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“I would replace him with a new governor who would reinstate our low-inflation mandate, [and] protect the purchasing power of our dollar,” said Poilievre.

Among Canadian politicians, Poilievre is arguably the most outspoken critic of the BOC’s decision to engage in quantitative easing during the pandemic, which he claims allowed the federal government to run up a massive deficit.

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He also said BOC officials are “financially illiterate.”

Conservative Party members select a new leader in September.

Write to Paul Vieira at [email protected]

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Credit: www.marketwatch.com /

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