Bank of Canada chief: supply chain problems mean inflation is set to take longer to come down

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OTTAWA, Oct 14 (Businesshala) – Global supply chain bottlenecks are not easing as expected, meaning inflation in Canada and among IMF members will probably take a little longer to come down, the governor of the Bank of Canada said on Thursday. Said to

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Those supply chain issues will weigh on Canada’s economic recovery in the near term, meaning it is “reasonable” to expect that the expected rebound in July will not be as rapid as the central bank forecast, Tiff McCalem told the International Monetary Fund. told reporters after attending. Meetings in Washington, DC

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“These bottlenecks are not reducing as expected. And of course there was a strong consensus that these issues should be addressed and they are going to take some time to work through,” McCalem said of his conversations with IMF central bankers.

“What this means in all of our countries is that inflation – the measure of inflation – is probably going to take a little longer to come back,” he continued.

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Still, Macklem said supply chain bottlenecks appear to be a bit more persistent, but they continue to be seen as fleeting.

Reporting by Julie Gordon and David Ljunggren

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