Bank of Canada’s Tiff Macklem says there’s still little evidence that energy inflation is spreading

Bank of Canada's Governor Tiff Macklem has reiterated that there's scant evidence suggesting energy inflation is broadly affecting the economy, despite earlier warnings about rising inflation linked to higher gas prices. This statement is crucial as it underscores the bank's cautious approach towards tackling inflation, indicating they're not yet convinced that energy costs are significantly impacting broader price levels. The context is important given the global economic landscape, where energy price fluctuations can have far-reaching impacts, suggesting the Bank of Canada remains vigilant but not overly alarmed.