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Canada’s Tiff Macklem on the US trade dispute, AI and framework renewal

BoC’s governor speaks about declining economic resilience, the need for decisions despite policy dilemmas, Canada’s new structural model, lessons from QE, and more

Tiff Macklem, Bank of Canada
Credit: Kitsana Cheong, LukPhotos

What were the main areas of discussion and your key takeaways from the International Monetary Fund/World Bank Annual Meetings 2026 in Thailand?

The overarching theme was resilience. Despite several shocks, the global economy has held up: the latest World Economic Outlook forecasts growth of just over 3%. It’s not that the shocks aren’t having an impact – the Middle East war and trade fragmentation are weighing on growth – but artificial intelligence is boosting growth.

The IMF highlighted two

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