On Thursday, Bank of Canada Gov. Tiff Macklem stated that the risks of tightening monetary policy too much are being considered by the institution, amid this week's hold on an interest rate hike. The Governing Council decided to maintain the policy rate at 5 per cent, but acknowledged that it may be necessary to increase the rate further if inflationary pressures persist. He added, “But I want to be clear – we are not trying to kill economic growth.”