Bank of Canada Survey Suggests Businesses, Consumers Expect High Inflation for Longer

Bank of Canada Survey Suggests Businesses, Consumers Expect High Inflation for Longer
The Bank of Canada building is seen in Ottawa on April 15, 2020. The Canadian Press/Adrian Wyld
The Canadian Press
Updated:

OTTAWA—Canada’s central bank says businesses and consumers are increasingly convinced that the pace of price increases will continue for the foreseeable future.

The Bank of Canada said Monday that its pair of quarterly surveys of businesses and consumers show respondents expect the annual rate of inflation to remain above the Bank of Canada’s two percent target for the rest of the year.