Governor Tiff Macklem said the issue comes down to the trust Canadians have in the Bank of Canada to make sure the pace of price increases doesn’t run too high. Statistics Canada reported Wednesday that the annual pace of inflation held steady in November as the consumer price index rose 4.7 per cent compared with a year ago. November marked eight straight months that headline Inflation has come in above the Bank of Canada’s target range. "If prices just remain where they are today, the overall rate of inflation will slow down," he said. The Bank of Canada doesn’t foresee a first hike to its trendsetting interest rate until at least April.

Source: CBC News December 15, 2021 13:18 UTC