HALIFAX — A senior Bank of Canada official says the need to improve productivity has reached an emergency level as the economy faces a future where inflation may be more of a threat than in the past few decades.
In a speech, senior deputy governor Carolyn Rogers says an economy with low productivity can only grow so quickly before inflation sets in.
But, she says, an economy with strong productivity can have faster growth, more jobs and higher wages with less risk of inflation. Rogers says when you compare Canada’s recent productivity record with that of other countries, what sticks out is how much the country lags on investment in machinery, equipment and intellectual property.
She also says Canada needs to focus on making sure the training and education we provide teach the skills we need, while a more competitive business environment would also help drive greater innovation and efficiency. The speech comes ahead of the Bank of Canada's next interest rate decision and monetary policy report set for April 10.
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.
Need to improve Canadian productivity has reached emergency level, BoC official saysHALIFAX — A senior Bank of Canada official says the need to improve productivity has reached an emergency level as the economy faces a future where inflation may be more of a threat than in the past few decades.
Read more »
Need to improve Canadian productivity has reached emergency level, BoC official saysA senior Bank of Canada official says the need to improve productivity has reached an emergency level as the economy faces a future where inflation may be more of a threat than in the past few decades.
Read more »
The 1st Canadian Environmental Music Awards launched at Halifax concertLogan Staats, a Mohawk singer-songwriter from Six Nations of the Grand River, performs his song 'Deadman' at the Climate Emergency concert on March 17, 2024.
Read more »
Halifax sexual-health clinic can no longer give free birth control to patients in needReproductive Options and Services Clinic says it can no longer offer free birth control devices to patients because it has run out of donations
Read more »
Canadian Premier League's Cavalry FC and Vancouver FC to Kick Off Canadian ChampionshipThe Canadian Premier League's Cavalry FC and Vancouver FC will kick off the Canadian Championship on April 23 in Calgary. Major League Soccer's Toronto FC will also take on League1 Ontario's Simcoe Country Rovers FC at Toronto's BMO Field on April 24. The preliminary stage will wrap with the CPL's HFX Wanderers hosting Ligue1 Quebec's CS St-Laurent on May 2. The six preliminary stage winners will advance to the quarterfinals, joined by reigning champion Vancouver Whitecaps and runner-up CF Montreal, both of whom received byes.
Read more »
BoC expects quantitative tightening to end in 2025, deputy governor saysOTTAWA — Bank of Canada deputy governor Toni Gravelle says the central bank expects quantitative tightening to end sometime in 2025.
Read more »