Wages key to pace of Bank of Canada's remaining rate hikes — via financialpost Canada News Economy
Bank of Canada senior deputy governor Carolyn Rogers said last week that the central bank is wary of a wage-price spiral, as workers take advantage of a
to insist on salary increases that match this year’s spike in the cost of living. That could cause inflation to become entrenched, as employers likely would seek to recoup higher labour costs by charging more for goods and services.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
Another interpretation was that Macklem was simply urging his audience to believe him when he says the Bank of Canada will do what is necessary to get inflation under control, even if that means courting a recession.
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