Deal to End Iran Conflict a Welcome Economic Development, BOC's Macklem Says -- Market Talk

Dow Jones

06/23

1007 ET - Bank of Canada Governor Tiff Macklem says the deal reached between the US and Iran to end the conflict and get crude oil moving through the Strait of Hormuz is a welcome development for the global economy. "Global energy prices have begun to come down, though much remains to be worked out," says Macklem, in a brief mention in a speech focused on global imbalances. Inflation accelerated in Canada in May to its highest level since 2023, fueled by rising gas prices. Economists argue the immediate pullback in energy prices should lead to a softening in headline inflation, providing further comfort to the BOC given that core CPI appears contained. (paul.vieira@wsj.com; @paulvieira)

(END) Dow Jones Newswires

June 23, 2026 10:07 ET (14:07 GMT)

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Inflation accelerated in Canada in May to its highest level since 2023, fueled by rising gas prices. Economists argue the immediate pullback in energy prices should lead to a softening in headline inflation, providing further comfort to the BOC given that core CPI appears contained. 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