, future decisions will depend on a range of data, including consumer demand, business activity, and of course inflation, said Bank of Canada Deputy Governor Sharon Kozicki Thursday.Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
“We’re in a world where we still have high inflation. We still have high short-term expectations of inflation, we still have evidence of excess demand,” said Kozicki. The bank is aware these higher rates are putting pressure on borrowers, but the strain is also part of the plan to reduce domestic demand that is still too high.
She said that as it stands, companies are passing along price increases too easily as consumers continue to spend despite price increases.
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