[Bank of Canada Governor: Welcomes U.S.-Iran Interim Agreement, Global Energy Prices Have Started to Decline] Reported by Golden Finance, on June 23, Bank of Canada Governor Macklem stated that the agreement between the United States and Iran to end conflicts and allow crude oil transportation through the Strait of Hormuz is a welcomed development for the global economy. Macklem briefly mentioned this during a speech focused on global imbalances, saying, 'Global energy prices have started to decline, although many issues still need to be resolved.' Driven by rising gasoline prices, Canada's inflation rate accelerated in May, reaching its highest level in 2023. Economists believe that the immediate drop in energy prices should lead to a softening of overall inflation. Given that core CPI appears to be under control, this would provide further reassurance to the Bank of Canada.