BoC survey shows most businesses think it will take at least 2 years to get inflation under control

Financial Post: 'The central bank polls a representative group of companies every quarter to give it a sense of the mood inside the country’s C-suites. It was no surprise the latest Business Outlook Survey turned up anxiety over prices, which have risen to the highest in more than three decades, according to Statistic Canada’s consumer price index.

'Some 35 per cent of respondents said they expected inflation to remain “substantially” above the Bank of Canada’s target of two per cent for two to three years, compared with about 31 per cent in the fourth quarter, while 34 per cent said inflation would drop to something closer to the target within one to two years, compared with about 39 per cent in the previous survey.'