Bank of Canada forecasts nearly 6% average inflation outlook in 1st half of 2022

Testifying to Canada's Finance Committee on Monday, Bank of Canada Governor Tiff Macklem said the organization's latest outlook for inflation in the first half of 2022 is an average of nearly six per cent, adding that it'll remain above the one per cent to three per cent range throughout the year. "High inflation affects everyone," said Macklem.