Bank of Canada Governor Tiff Macklem and his advisors have “all powers to do anything they want” to fight inflation regardless of consequences, the Senate was told yesterday. Senators took up Second Reading debate on a private bill seeking greater public scrutiny of Macklem.

“The Governor and his team have all powers to do anything they want,” said Senator Diane Bellemare (Que.), sponsor of Bill S-275 An Act To Amend The Bank Of Canada Act. Current law “gives the Governor full powers to act as he sees fit without any transparency,” added Bellemare.