The Financial Post reports in its Thursday, Nov. 23, edition that Bank of Canada governor Tiff Macklem said policymakers may have done enough to tame inflation, reinforcing market and economist expectations that interest rates have peaked. A Bloomberg dispatch to the Post reports that in his first speech since leaving borrowing costs unchanged in October, Mr. Macklem said the economy is expected to remain weak for the next few quarters, which means "more downward pressure on inflation is in the pipeline." He said, "This tightening of monetary policy is working, and interest rates may now be restrictive enough to get us back to price stability." Mr. Macklem said the BOC is prepared to raise rates again "if high inflation persists." Mr. Macklem's remarks came a day after the latest data showed Canada's consumer price index rose 3.1 per cent in October, the slowest pace since June. A key metric for underlying pressures that policymakers are tracking also slowed to below 3 per cent. His comments suggest the BOC has more confidence inflation will continue to decelerate in the coming months as the economy slows, allowing policymakers to keep rates steady at 5 per cent. Officials next set rates in two weeks.