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MNI: BOC Says Record 78% Of Firms See +3% Inflation Over 2 Yrs

(MNI) Ottawa

Households also see record 5% inflation in two years.

Bank of Canada surveys of companies and households published Monday show record views of wage and price inflation over the next two years, and some firms say a recession may eventually result from higher interest rates.

The consumer price index will advance more than 3% over the next two years according to 78% of firms surveyed by the central bank, up from the prior record 70%. Firms also expect record wage gains of 5.8%.

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Bank of Canada surveys of companies and households published Monday show record views of wage and price inflation over the next two years, and some firms say a recession may eventually result from higher interest rates.

The consumer price index will advance more than 3% over the next two years according to 78% of firms surveyed by the central bank, up from the prior record 70%. Firms also expect record wage gains of 5.8%.

Keep reading...Show less