Expect inflation to officially be over 8% and stay there a few months, Bank of Canada governor warns
The Bank of Canada expects inflation to go "a little over" eight per cent as soon as next week, when June's data is released, and stay in that range for a few more months, the central bank's governor told a business group in a webcast transcript released late Friday. Macklem reiterated the Bank of Canada now expects inflation to average around eight per cent for the next few months, then fall to around three per cent by the end of 2023 and to the two per cent target in 2024.Bank of Canada hikes rates massively to fight inflationAn increase in lending rates was expected amid runaway inflation, but experts are still surprised at the size of the boost — it's the largest in almost 25 years.
Stock up on flour for winter
We will definitely feel the pinch. This article also explores some of the ramifications.
This guy didn't see inflation coming at all and can now predict what will happen in 2024. WTF!! Where can I get a job like that?
Who was our prime minister the last time inflation was this high?
And you all thought CERB payments were free money . No, it was imaginary money.
I really like how Tiff has asked us common folk to not ask for a raise or build inflation into a contract until it is controlled. Well sorry Mr Governor I don’t make about 500k annually like you do . Let’s see you and your pals take some wage cuts !
Now do the math based on 1983 products
All planed.
Modern monetary theory + morons in charge= economic collapse.
Total bullshit, inflation is by far much higher. STOP LYING TO THE PUBLIC!!
Thanks liberals… TrudeauDestroyingCanada
And how do we compare to other G7 countries?
So 2 years later the BOC is still telling us this inflation is temporary. Do they mean it will be temporarily at 8% before it goes to 9% and higher!?! If i had a small business i would not be listening to the BOC's advice.
This being the liberal who laughed at raising interest rates a few months ago. Not so funny voting for pedo socks now is it?
Take a wild guess who was PM then? Apparently Canadian history wasn’t a big subject in schools these latest decades🤦♀️
Inflation is also caused by government high taxes insurance and high government employees wages and benefits your government is causing inflation
Should levy a special tax on the fools who voted Liberal and NDP so they can pay for the woes they have inflicted on the rest of Canadian society.
Question: with the provinces running massive deficits, how do you think that is affecting inflation? Are provinces “printing” money? Or is it only the Feds? cdnpoli onpoli
Is this some kind of new math? Because I struggle to find anything that isn't at least 20-30% more expensive than last year. And gas and housing is closer to 100%.
Didn’t trudeau say we don’t need to worry about his spending cause interest rates were so low?
When using updated metrics, the US inflation rate is actually around 17%, not 9% as the old measure indicates. Similarly, I think it’s reasonable to suspect that Canada’s true inflation rate is already significantly higher.
It’s always worse under Trudeau rule
Like father like son I suppose.
Make no mistake, the BoC is advising employers to stand firm on wages, but you know what will happen... ...almost every employee with salaries way way above the median will get 'cost of living' or 'inflation' increases. The working poor will get their hours cut. Dangerous
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.
To reduce inflation, reduce the number of dollars in circulation. The guaranteed way to reduce inflation, is increasing taxes on high income takers who can afford it. The media will never tell you that, and they probably don't even know it. TaxTheRich
8%.....more like 20+% as food and fuel is not accounted for in that calculation
How does it compare to other G7 countries?
Inflation is worldwide and Canada's inflation is one of the lowest.
It is Harper's fault... :screeeeech: Twitter either shut down all the bots or Justin supporters dont wake up early.
Pierre has been telling us these weird conspiracies and divisive rhetoric for years.
Consequently, the Liberal Government does nothing to combat inflation, except suggesting pumping even more money into the economy, while the Bank of Canada engineers the worst recession ever. I think this is a great team.
Following the U.S ...as usual 🙄
Back then I bought my first home. 19.5% mortgage. We are going to get through this. A bank rate of 2.5% is not out of line.
I’m glad the government is printing money to help us through this
Los liberales son una mafia de saqueadores que se benefician entre ellos mismos , sus amigos y los grupos que reciben dineros directos de gobierno y municipalidades
Haha a few months? I’m going to save this article and send it back to you in 2023 when inflation is even higher. We’re headed for double digits.
And yet they keep printing money and raising rates both of which are causing the inflation.
What a surprise, who was PM in 1983. Trudeau in English means Inflation and Gas crisis. Thank you CBC I love learning new things everyday
Fox Business says 30% using real formula indicators. The Fed is 'terrified', All the Canadian MSMs report the same story? Hiding the Truth only works as a temporary measure, until the facts steamroll over the hidden reality. Hold on Canada, the Liberals goofed, and you're alone.
Trudy has never missed a meal🤔
In other news, analysts give green light to another round of corporate greed price hikes, ensuring even higher profits for share-holders!
Thanks JustinTrudeau and company.
This is their whole job. Criminals the central bankers.
How on earth does this guy still have a job?
Way to go!!
Trust the experts, people.
Thanks Trudeaus
The numbers are in
And pointless govt emerg spending, restrictions and mandates continue NdP-Libs 2025!!!
9.1% in the States.. 10% a possibility .. imagine 10% ...well .lets not .90% oblivious to the fact.... now there's a fact.
Honesty4Libs Historical Inflation (avg). J. Diefenbaker = 2% L. Pearson = 3% P. Trudeau = 8% B. Mulroney = 4% J. Chretien = 3% S. Harper = 2% J. Trudeau = Is anyone surprised that inflation escalates under Trudeau?
Soooo, 40 years of neoliberal economics has got us to the same place we were, and the working class got screwed in the process.
Good thing it is just 'transitory'.
Justinflation
8.3 , it was at 8.3 in 2017 .. ThanksTrudeau
Can't wait till people that look like this guy are wrecked.
Funny thing is when inflation levels out and the government suddenly says how great they are, prices will be the same.
Oh come one tell us something believable
It has nothing to do with current govts and everything to do with the Wall St. casino taking advantage of the fiat currency started by Pres. Richard Nixon. I warned of this back in 2012. This does not end well. For an inside view, see PBS 'The Warning'.
Better print more stimmy checks to help the people 🤦♂️
Real inflation is 20%. The federal government created this mess and they need to go.
'Analysts expect June inflation to hit 8.3 per cent, which would be the highest since 1982' Thank-you Trudeau voters. Let's keep printing money and giving it away. Devalues the Canadian dollar, creates hyper inflation! Enjoy ! Big recession coming. Merry Christmas! .
Inflation is already well into double digits for normal people. Up to 30% for the poor. Visit a grocery store for proof.
Same analysts who predicted inflation would be transitory?
Liberal Chrystia Freeland banked Canada's economic policies on historically low interest rates and said inflation was 'transitory' The Liberals should never be trusted to run this country ever again. The Liberals are killing the Canadian Middle Class each day cdnpoli OnPoli
Hasn’t been that high since another Trudeau was PM.
If only the federal government didn’t bring billions and billions of dollars out of thin air
Cue PP camp followers.
Trudeau & Trudeau Canadian Financial Wizards 🧙♂️.
Can he make it higher then daddy did ?
Inflation has been expected since the covid releif spending by anyone with even basic understanding of economics. We were called alt-right conspiracy theorists by legacy and social media.
The Liberals Inflationary Policies on Canadians are killing the Canadian Middle Class JustInflation
geee.... if only there was a way to curb that....
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