Bank of Canada’s continuous rate hike is not slowing down inflation, report CanadiansInvest stocks energy tech biotech industry
OTTAWA – A report released by the Canadian Labour Congress and Centre for Future Work says Canada’s inflation rate held at 6.9 per cent in October, despite the Bank of Canada’s aggressive interest rate increases, while workers across Canada continue to see their cost of living rise.
In a risk scenario released by the Parliament Budget Officer on November 9, modelling shows that increasing interest rates may not move inflation for years. The Bank of Canada’s single-minded pursuit of the inflation target is not the only way, we have proof of that today.
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