While Conservative leadership candidate Pierre Poilievre has called for his removal, Bank of Canada governor Tiff Macklem says he will “leave the politics to the politicians.”
“We welcome diverse views, we welcome analysis, we welcome criticism of our work and our decisions,” said Macklem. “Canadians should be asking us tough questions.”
Poilievre has said he would fire Macklem if he became prime minister, criticizing him for record high inflation, record high housing prices and the bank’s quantitative easing program, which Poilievre says is “money printing.”
“When the Bank Governor surrendered his independence to print money for Trudeau, it inflated a housing bubble,” Poilievre tweeted on Wednesday. “If that bubble bursts, countless people will be underwater on their mortgages—facing bankruptcy. Another reason to fire Trudeau & his Governor.”
Macklem admitted that inflation “is too high” but said he is confident the bank will be able to bring inflation back to its mandated two per cent target.
When asked by reporters if it was appropriate for Poilievre to call for his removal, Macklem repeated he would “leave the politics to the politicians” and declined to comment further.