Inflation Still Too High, Bank of Canada Says Amid Softer Data

Canadian inflation appears headed in the “right direction” but remains too elevated, a top Bank of Canada official said.

In a speech Tuesday, Deputy Governor Paul Beaudry said the central bank needs to work hard to ensure expectations for inflation don’t become entrenched at higher levels, with “coherent, clear and relatable” public messaging that it remains focused on its 2% target.