OTTAWA, April 25 (Reuters) - Bank of Canada Governor Tiff Macklem on Monday reiterated the central bank will act "forcefully" to tackle inflation, which is "too high" and will now stay elevated for longer than previously thought.
"Inflation is too high. It is higher than we expected, and it's going to be elevated for longer than we previously thought," he said in prepared remarks before testifying to the finance committee in the House of Commons.
"We are committed to using our policy interest rate to return inflation to target and will do so forcefully if needed." (Reporting by Julie Gordon and Steve Scherer in Ottawa; Editing by Chizu Nomiyama)