Fiscal and monetary policy are not at odds, Bank of Canada’s Macklem tells MPs
Published . Updated .
Key takeaways
- OTTAWA — Bank of Canada governor Tiff Macklem told members of Parliament on Tuesday he doesn't think the federal government's fiscal policy is at odds with the central bank's efforts to control inflation.
- Exposed: EWC, BWX, EFA, RY, BNS
- Market reaction: price tracking starts with the next trading session.
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OTTAWA — Bank of Canada governor Tiff Macklem told members of Parliament on Tuesday he doesn't think the federal government's fiscal policy is at odds with the central bank's efforts to control inflation. Macklem and senior deputy governor Carolyn Roge...
Directly affected
- No company is named in this report.
Indirectly affected
- EWC iShares MSCI Canada ETF+0.9% 30d
iShares MSCI Canada ETF holds stocks listed in Canada, which this story is about (“canada”).
- BWX SPDR Bloomberg International Treasury Bond ETF
SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in Canada
- EFA iShares MSCI EAFE ETF-1.5% 9d
iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes Canada
- RY Royal Bank of Canada
Royal Bank of Canada (commercial banks) is one of the largest Canada-based companies traded in the US, so news about Canada (“canada”) reaches its shares.
- BNS The Bank of Nova Scotia
The Bank of Nova Scotia (state commercial banks) is one of the largest Canada-based companies traded in the US, so news about Canada (“canada”) reaches its shares.
- ENB Enbridge+3.3% 30d
Enbridge (pipe lines (no natural gas)) is one of the largest Canada-based companies traded in the US, so news about Canada (“canada”) reaches its shares.
- SU Suncor Energy
Suncor Energy (petroleum refining) is one of the largest Canada-based companies traded in the US, so news about Canada (“canada”) reaches its shares.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| EWC | +2.17% | +0.68% | base | after close | after close | after close | after close |
| BWX | +0.16% | +0.49% | base | after close | after close | after close | after close |
| EFA | +0.59% | +0.25% | base | after close | after close | after close | after close |
| RY | +0.48% | -0.30% | base | after close | after close | after close | after close |
| BNS | +0.91% | +0.12% | base | after close | after close | after close | after close |
| ENB | -0.76% | +1.06% | base | after close | after close | after close | after close |
| SU | +2.82% | +5.36% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Fiscal and monetary policy are not at odds, Bank of Canada’s Macklem tells MPs EverythingGP
Source: EverythingGP
How far Ishares Msci Canada Etf (EWC) has moved since 4 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Bank Of Nova Scotia (BNS) | three days earlier | +0.12% | final price |
| Bank Of Nova Scotia (BNS) | five days earlier | +0.91% | final price |
| Spdr Series Trust (BWX) | three days earlier | +0.49% | final price |
| Spdr Series Trust (BWX) | five days earlier | +0.16% | final price |
| Ishares Tr (EFA) | three days earlier | +0.25% | final price |
| Ishares Tr (EFA) | five days earlier | +0.59% | final price |
| Enbridge (ENB) | three days earlier | +1.06% | final price |
| Enbridge (ENB) | five days earlier | -0.76% | final price |
| Ishares Msci Canada Etf (EWC) | three days earlier | +0.68% | final price |
| Ishares Msci Canada Etf (EWC) | five days earlier | +2.17% | final price |
| Royal Bank Of Canada (RY) | three days earlier | -0.30% | final price |
| Royal Bank Of Canada (RY) | five days earlier | +0.48% | final price |
| Suncor Energy (SU) | three days earlier | +5.36% | final price |
| Suncor Energy (SU) | five days earlier | +2.82% | final price |
Congressional trades in the stocks in this story
- Sen. John Boozman sold Ishares Tr (EFA) (jointly held), worth $1,001 - $15,000 on 9 Sep 2026. That is 56 days before publication. Filed 21 Oct 2026. View the filing.
- Rep. Sheri Biggs bought Bank Of Nova Scotia (BNS) (held by a spouse), worth $500,001 - $1,000,000 on 1 Sep 2026. That is 64 days before publication. Filed 22 Sep 2026. View the filing.
- Rep. Sheri Biggs sold Bank Of Nova Scotia (BNS) (held by a spouse), worth $500,001 - $1,000,000 on 19 Aug 2026. That is 77 days before publication. Filed 22 Sep 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Ishares Msci Canada Etf (EWC)
Companies carried with this story
- EWC Ishares Msci Canada Etf
For “Fiscal and monetary policy are not at odds, Bank of Canada’s Macklem tells MPs,” Ishares Msci Canada Etf (EWC) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI Canada ETF holds stocks listed in Canada, which this story is about (“canada”)
- BWX Spdr Series Trust
For “Fiscal and monetary policy are not at odds, Bank of Canada’s Macklem tells MPs,” Spdr Series Trust (BWX) is linked, with no stored direction, medium confidence. Reason on file: SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in Canada
- EFA Ishares Tr
In “Fiscal and monetary policy are not at odds, Bank of Canada’s Macklem tells MPs,” Ishares Tr (EFA) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes Canada
- RY Royal Bank Of Canada
In “Fiscal and monetary policy are not at odds, Bank of Canada’s Macklem tells MPs,” Royal Bank Of Canada (RY) is linked, with no stored direction, medium confidence. Reason on file: Royal Bank of Canada (commercial banks) is one of the largest Canada-based companies traded in the US, so news about Canada (“canada”) reaches its shares
- BNS Bank Of Nova Scotia
Bank Of Nova Scotia (BNS) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Fiscal and monetary policy are not at odds, Bank of Canada’s Macklem tells MPs.” Reason on file: The Bank of Nova Scotia (state commercial banks) is one of the largest Canada-based companies traded in the US, so news about Canada (“canada”) reaches its shares
- ENB Enbridge
In “Fiscal and monetary policy are not at odds, Bank of Canada’s Macklem tells MPs,” Enbridge (ENB) is linked, with no stored direction, medium confidence. Reason on file: Enbridge (pipe lines (no natural gas)) is one of the largest Canada-based companies traded in the US, so news about Canada (“canada”) reaches its shares
- SU Suncor Energy
For “Fiscal and monetary policy are not at odds, Bank of Canada’s Macklem tells MPs,” Suncor Energy (SU) is linked, with no stored direction, medium confidence. Reason on file: Suncor Energy (petroleum refining) is one of the largest Canada-based companies traded in the US, so news about Canada (“canada”) reaches its shares
Ishares Msci Canada Etf (EWC)
The 4 Nov 2026 story “Fiscal and monetary policy are not at odds, Bank of Canada’s Macklem tells MPs” names Ishares Msci Canada Etf (EWC) because of this story.
Ishares Msci Canada Etf (EWC) is on the page because iShares MSCI Canada ETF holds stocks listed in Canada, which this story is about (“canada”)
A second company, Spdr Series Trust (BWX), is listed for a different reason: SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in Canada
Dates and price levels for Ishares Msci Canada Etf (EWC)
EFA traded between 102.00 and 104.68 across 6 sessions. The latest close on file is 103.46. EWC traded between 57.81 and 61.73 across 20 sessions. The latest close on file is 60.20.
How strong the case is around Ishares Msci Canada Etf (EWC)
46 out of 100
“Fiscal and monetary policy are not at odds, Bank of Canada’s Macklem tells MPs” scores 46 out of 100. The score uses 1 sources, and 7 linked companies.