The intensity and persistence of supply chain disruptions that have helped fuel the rising cost of living have surprised the Bank of Canada, a senior bank official said Tuesday.
In a speech to Women in Capital Markets in Toronto, senior deputy governor Carolyn Rogers said a clear view of the future has been hard to come by over the last two years.
And now, Rogers said parts of China are under a renewed lockdown, causing further supply issues, transportation backlogs and uncertainty.The supply chain disruptions have been a factor driving inflation which has risen to its highest rate in three decades. Rogers stressed the importance of the Bank of Canada’s independence in making its decisions and the work it has done to earn the trust of Canadians.
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