POLITICSBloomberg Markets·1d ago
Bank of Canada Troubled by High Gas Prices, Warns of Hike Risk
AI TLDR · GEMINI
The Bank of Canada has indicated that interest rates may need to rise if gasoline prices continue to remain elevated. The governing council cautioned that prolonged high energy costs could increase the prices of other goods and services, potentially driving broader inflation.
The Bank of Canada’s governing council warned that it may need to hike interest rates, saying the longer gasoline prices remain elevated, the more likely that would pass through to other goods and services.
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