The Globe and Mail reports in its Thursday, March 7, edition that Bank of Canada Governor Tiff Macklem says the central bank's approach to quantitative tightening has not changed, despite signs of pressure in short-term funding markets earlier in the year, which prompted speculation that the bank could stop shrinking its balance sheet in the coming months. The Globe's Mark Rendell writes that Mr. Macklem said in a press conference Wednesday: "We don't think QT was the root cause of these overnight pressures. And you shouldn't take this tightness that we saw in January as a suggestion, or as a sign, that QT is likely to end earlier than we previously expected." This normalization process, QT, involves letting the bonds the central bank owns mature without replacing them. This pulls money out of the financial system and reinforces the bank's high interest rates. Questions have emerged in recent months about whether the bank might end QT earlier, after interest rates in overnight lending markets, known as repo markets, began moving away from the bank's target -- a potential sign that demand for cash was exceeding supply. Senior deputy governor Carolyn Rogers says, "So far QT has gone very smoothly."