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Bank of Canada’s no longer refers to high price growth / inflation as ‘transitory’

Globe & Mail: "Current signals about inflation expectations are mixed. The Bank of Canada’s most recent quarterly business survey, conducted in August and September, found that 45 per cent of respondents believed the rate of inflation would be above 3 per cent for the next two years – the highest proportion since the survey began in 2001.

"A separate survey of consumers found that the median projection for the rate of inflation a year from now was 3.7 per cent, the highest since the survey began in 2014.

"On the other hand, the majority of businesses surveyed said they believed that the forces pushing up consumer prices were temporary. For consumers, inflation expectations two and five years out remained around 3 per cent. New survey results will be published in January."

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