Growth in the Canadian economy stalled last quarter, with restrictive monetary policy weighing on household spending and business investment.
“Overall, the latest data remains in line with the Bank’s expectation that CPI inflation will come down to around 3 per cent in the middle of this year,” the bank said in a news release on Wednesday. “This should moderate wage growth and also increase competitive pressures, making it more difficult for businesses to pass on higher costs to consumers,” the bank said.
That means - next time around, they will recoup it - by increasing it more.
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