Bank of Canada deputy governor Nicolas Vincent says businesses are still raising their prices more frequently and by larger amounts than they did before the pandemic, which is contributing to higher-than-expected inflation.
Vincent made the comments in his first speech as deputy governor today to the Chamber of Commerce of Metropolitan Montreal.
According to his prepared remarks, Vincent says the Bank of Canada believes that higher-than-expected inflation over the last year is “intimately linked” to larger and more frequent price increases from businesses.
