OTTAWA—Bank of Canada Gov. Tiff Macklem said senior officials are likely to consider another half-percentage point increase in its main interest rate when they deliberate ahead of the central bank’s next policy decision on June 1.
In testimony Monday before Canadian lawmakers, Mr. Macklem offered a glimpse of just how aggressive central banks are prepared to be to cool inflation, which was already at elevated levels, then moved into higher gear after the war in Ukraine lifted prices for fuel, food and other commodities.
