Governor of the Bank of Canada says high inflation may require multiple interest rate hikes

```htmlBank of Canada Governor Macklem stated at the press conference that the current inflation level in Canada remains too high, with primary focus on gasoline and energy prices. Macklem pointed out that the greater risk facing current inflation lies in the evolving situation in the Middle East, how long oil prices will remain elevated, and ultimately how high they will rise. The central bank will closely monitor inflation data and make policy decisions accordingly. He stated that the central bank has limited tolerance for high inflation. If it judges inflation to pose a persistent problem, multiple rate hikes may be required; however, raising rates is definitely not the only outcome, and the central bank is ready to adjust monetary policy as needed. Meanwhile, Canada's economy is steadily developing amid the new phase of trade disputes, but new tariff measures from the US will place pressure on economic growth in the fourth quarter. Macklem also noted that global bond yields have had some spillover effects on Canada, which the central bank will take into consideration; if monetary policy fails to achieve its objectives, the market will reprice accordingly.```