Macklem says he doesn't think federal budget will have much of an impact on inflation

Bank of Canada governor Tiff Macklem says he doesn't think the federal budget tabled last month will have much of an effect on inflation.

Macklem was testifying at a Senate committee alongside senior deputy governor Carolyn Rogers following the central bank's latest interest rate announcement.

The governor says the spending plan hasn't changed the federal government's fiscal track by much.

Macklem says that's why he doesn't expect it to have a significant impact on economic growth or inflation.