The Bank of Canada expects inflation to go "a little over" 8%, as soon as next week when June's data is released, and stay in that range for a few more months, Governor Tiff Macklem told a business group in a webcast transcript released late Friday.
"Inflation is high sevens. It’s probably going to go alittle over eight . We have the next CPI next week. We know oil prices were very high in June, so I wouldn’t be surprised to see it move up," Macklem said., the highest since January 1983. Analysts surveyed by Reuters expect June inflation to hit 8.3%, which would be the highest since 1982. The data will be released on Wednesday at 8:30 a.m. ET .
He also made clear the bank is very concerned about a wage-price spiral, where businesses raise wages to keep workers and then pass the higher costs on to households, who then want higher wages to compensate for inflation.
What’s in the basket they are measuring ? How current or relatable is it?
Raise those rates! All you're going to hear about is people who have racked up huge debt in some bone-headed get rich scheme and now can't make payments. Too bad. I have savings that interest rates will grow, and I don't want inflation.
WEF tell them to destroy Canada...and the muppets obey. The planned death of Canada....enslave Canadians and steal their resources. Canada is being played on the left and right by traitors.
Corporate profits 🚀 time to tax windfall profits .
I think sending more of our money to the corrupt dictator Zelensky should help calm inflation.
Self induced due to your fascist leader JustinTrudeau If you lot stopped printing money your inflation would go down by at least 6%
Wondering why
Lets go Brandeau!
And people don’t think we need a wholesale change of leadership in this country? It’s been a debacle since 2015 and keeps getting worse! Give your heads a shake so some common sense falls into place.
TrudeauDestroyingCanada
Let’s be honest with folks, this guy and his team failed to act with increased interest rates to at the very least dampen the impact of inflation Canadians are facing now. Hard to do the work from the cottage I guess. 🤷♂️ PierrePoilievre was correct, this guy has to go.
It's a lot more then 8%... 8% is what you can no longer supress and need to pass along, but if this run away freight train will continue to pick up speed it will go much, much higher. But hey, Liberals keep proposing spending...
So instead of raising rates why don't they stop printing money?
Two months ago, you barely even mentioned inflation because you were too focused on waste water levels and COVID. I’m totally not surprised inflation continues to increase. The signs have been there for over two years!
Lol 'a little over 8 percent' Thanks blackface JustinTrudeau for destroying this country
It's hovering around 30%, and the Fed is 'TERRIFIED, because the Dems haven't a clue what to do, reports Fox Business. The BOC is in the same Canoe. Gasoline doubles, food up 30%, and inflation rises to 8%. What a mathematical genius silenced by government.
Thanks Trudeau. Raise the carbon tax, that should help with inflation
Worst government of all time the two Trudeaus hold the record for screwing over the country the worst
It will keep climbing as long as the West keeps the Ukraine war going,and forces more gas out of the system,which is what their Green Agenda is all about...No more oil,no more fertilizer,no more beef,and kill as many as possible with the vaccines...All tied together...
Nice vertical, komrades. Don't worry, Liberal gov will save you. They are curbing inflation by printing and wasting more money. $7 Billion more. We live in a parody.😢 'Chrystia Freeland to unveil $7-billion plan to fight inflation.'
Jagmeet wants to give everyone $1000 to help with inflation… ourbestandbrightest
3 jobs and we cannot afford the basics .... SAD
Are we or are we Not in a recession? I’d really like to be truly informed..
SAD. Situation is unbearable. We cut many expenses and still can't manage.
These people getting paid to deflate the real numbers. The BoC governor is a waste of groceries.
I know how to stop inflation...get rid of the federal government.
They say, 'don't shoot the messenger', but where is your outrage Did you sell your soul to be instruments of Trudeau propaganda?
And that's what they will admit to.
This Chief needs to sniff less gas .
Keep following blindly your master s , u s a, dictates
Yeah...just like getting a LITTLE pregnant.
Just 'a little over' 😂
Same government says 'a little over 99.98% survival rate for covid' is bad
And he still has a job?!!!
What happens when a country refuses to use their own natural resources to empower their citizens and companies.
What happened to transitory inflation, another Liberal lie
It’s transitory 🙄.
Sure food and gas has doubled, I don't give a crap about a TV price. We are way higher on daily goods we use to live, so out of touch with reality
Keep it going why stop at 8 let the gun begin when people making 150k a year struggle
The Bank of Canada Chief is another in a long line of Canadian Traitors & a Globalist Stooge. The Bank of Canada has normalized the 'The Great Reset' & is political in nature by pushing the UN\\WEF\\Davos Gang's Fascist Agendas. Let's fire this Stooge. .
I am old enough to remember Pierre Polliviere being laughed at by Trudeaus social media army for predicting this and calling out Tiff as incompetent.....apparently he was right.
Print some more money…
Controlled demolition of our economy. Evil on display try getting to pretend it wasn't all part of their NWO plan.
SeakasPerson fireTiff
Disgusting
bankofcanada This is the same idiot who said interest rates were not going up. Then it was deflation. Then transitory. Then transitory but long lasting. Now its 'You guys just wait until 2024. It will be so cool!' Tiff failed.
He also said inflation was transitory
Lord help us…. Hope you JT fans are happy… knowing most of you are insulated by fat incomes you won’t be hurt as much as the rest of the country
Corporate greed driving inflation .
It's over 8%, love when they gas light us
Inflation rate is more like 30% than 8 or 9...
They don’t know sh*t. Trudeau’s puppets.
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