Canada’s Macklem encourages G-20 action to avoid another ‘calamity’

Bank of Canada

Tiff Macklem, senior deputy governor at the Bank of Canada, on Wednesday said the G-20 had "fallen short in correcting the imbalances that are plaguing the global economy".

In a presentation to the Federation of Indian Chambers of Commerce and Industry and Indian Banks' Association in Mumbai, India, Macklem was careful to praise the "considerable progress" made in "strengthening the microeconomic rules governing the regulated financial system", but noted there was more to be done.

He said that

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