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Article content The Bank of Canada sent out a warning to investors this week that inflation still matters. In a surprise move, it accelerated the timetable for a possible interest-rate increase and began paring back its bond purchases on Wednesday. That made Canada the first major economy to signal its intent to reduce emergency levels of monetary stimulus. We apologize, but this video has failed to load. Try refreshing your browser. Inflation forces the Bank of Canada s hand ahead of the Fed and ECB Back to video It’s a turn in policy by Governor Tiff Macklem that shows there’s a limit to how much he’s willing to test the upper boundaries of inflation, with new forecasts showing the central bank expects the biggest persistent overshoot of its 2 per cent target in at least two decades. The question is whether Canada’s situation is unique, or foreshadowing the start of a global exit from stimulus.

New yorkUnited statesNew south walesKrishna guhaChristine lagardeTheophilos argitisAndrew husbyJean francois perraultSteve englanderMonetary policyEuropean central bankFederal reserveStandard chartered bankRoyal bankCanada governor tiffGovernor tiff macklem