High inflation 'is keeping us up at night,' says Bank of Canada senior deputy governor — via financialpost Economy Highinflation BankofCanada
hours after Statistics Canada released the data on Wednesday, calling it an “unwelcome number,” but not “an entirely unexpected number” at a Globe and Mail event.
The inflation rate is higher than the 6.8 per cent reading in April and far above the Bank of Canada’s own forecast that it would average 5.8 per cent this quarter. When asked if that meant a 75-basis-point hike at the bank’s next decision due on July 13, Rogers did not rule out the possibility.
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