Tiff Macklem, the governor of the Bank of Canada, and Carolyn Rogers, the senior deputy governor, are scheduled to testify before the Senate Banking Committee on Tuesday night.
The central bank increased interest rates last week, making it six increases in a row.
The Bank of Canada increased its benchmark interest rate by half a percentage point on Wednesday and hinted that additional rate increases will be necessary to combat inflation that has reached decades-high levels.
The yearly inflation rate in Canada was 6.
9 percent in September, but it has been progressively falling since June, when it hit its highest rate of this year of 8.1%.
The Canadian economy is expected to experience a major slowdown toward the end of the year and into the first half of 2023, according to the Bank of Canada’s most recent monetary policy report, which was released last week.
Following the publication of the monetary policy reports in April and October, representatives from the Bank of Canada are frequently asked to testify.
Officials from the Bank of Canada will appear before a Senate committee.
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