BoC Govenor Macklem says bigger concern is rising medium and long-term inflation expectations; expecting a large March CPI figure, but still below 3%

Governor Macklem's comments indicate a notable concern for rising medium to long-term inflation expectations, which could signal a shift in the Bank of Canada's future policy stance. While he anticipates a large CPI figure for March, maintaining a forecast below 3% suggests that immediate inflation pressures might be manageable, potentially assuaging market fears and impacting CAD and fixed income movements.