Policy Rate Might Be Headed Toward 3% or Above

OTTAWA — The rapid price increases have raised the possibility that the Bank of Canada may need to double its policy rate, from the current 1.5% to 3% or higher, to push inflation back towards target. 2%, a senior central bank official said on Thursday.

“The bottom line is that the risk is greater now that inflation expectations could decline and high inflation could become entrenched,” Bank of Canada Deputy Governor Paul Beaudry said in a speech to an audience. fake business in Gatineau, Quebec. “This increases the possibility…

https://www.wsj.com/articles/bank-of-canadas-beaudry-policy-rate-might-be-headed-toward-3-or-above-11654192731?mod=pls_whats_news_us_business_f Policy Rate Might Be Headed Toward 3% or Above

Edmund DeMarche

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