Resilient consumers and rising housing prices are complicating the Bank of Canada\u0027s goal of getting inflation back to 2%. Find out more.
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Benajmin Tal and Karyne Charbonneau examined a wide swath of metrics including credit-card purchases, excess cash, credit conditions and credit quality and found that “consumers send a clear message of assurance” that “could complicate the downward trajectory in inflation.” For example, credit-card purchases have risen by more than 20 per cent over pre-pandemic levels since the summer, they said in a note released on April 19. But balances declined by approximately 13 per cent, suggesting Canadians want to and can afford to keep spending.Article content, allowing consumers to hang onto government transfer payments as excess deposits. Cash deposits have risen to $160 billion since the start of the pandemic.
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