Bank of Canada Governor Welcomes US-Iran Accord; Global Energy Prices Begin Declining, June 23

GAS-3.27%
According to Jin10 data, Bank of Canada Governor Tiff Macklem expressed welcoming stance toward a temporary agreement between the U.S. and Iran aimed at resolving conflict and enabling crude oil transport through the Strait of Hormuz on June 23. Macklem stated during a speech on global imbalances that "global energy prices have begun to decline, though many issues remain to be resolved." Canada's May inflation accelerated to its highest level since 2023, driven by rising gasoline prices. Economists expect near-term energy price declines to soften overall inflation pressure.
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