The Bank of Canada says businesses expect average inflation to remain elevated over the next two years, but see interest rate moves and better supply chains cooling things off longer term.
, which tracked business sentiment in the first quarter of 2022, revealed that Canadian companies expect it will take three years for inflation to reach the central bank's two per cent target.
The report also revealed that the number of businesses navigating supply chain challenges is at a record high. Approximately half of the Canadian businesses surveyed also expect to face upward cost pressures tied to higher energy and commodity prices due to the war in Ukraine, based on an additional study conducted in March to supplement the Business Outlook Survey.
The report also found that Canadian companies expect strong sales growth in 2022, but at a more moderate pace compared to last year. The Bank of Canada also today released its quarterly consumer survey, which revealed that Canadians' short-term inflation expectations reached record high levels in the first quarter of 2022.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Consumer inflation expectations move up, adding pressure on BoC to move aggressivelyCentral bank polls consumers, businesses in twin surveys, finding ‘dissatisfaction’ about expectation wages becoming unmoored from cost of living
Read more »
Bank of Canada survey shows most businesses think it will take at least two years to get inflation under controlKevin Carmichael: Results suggest that the central bank has entered a difficult phase
Read more »
Consumer inflation expectations move up, adding pressure on BoC to move aggressivelyCentral bank polls consumers, businesses in twin surveys, finding ‘dissatisfaction’ about expectation wages becoming unmoored from cost of living
Read more »
Canadians are becoming more divided over COVID-19, politics: survey - National | Globalnews.caThe majority of those surveyed said the COVID-19 pandemic (72 per cent) and the 2021 federal election (73 per cent) were the two most divisive issues over the past year.
Read more »
First SUMA convention in two years to be held this week | Globalnews.caFrom April 3 to April 6, representatives from Saskatchewan cities, towns, villages, resort villages and northern municipalities will all be gathering in Regina for the convention.
Read more »
Central Okanagan regional district searching for new North Westside fire chief - Okanagan | Globalnews.caFire chief Ron Ewert announced his resignation just weeks after being hired. Ewert was the North Westside’s third fire chief in two years.
Read more »