Stubborn inflation could lead the Bank of Canada to maintain high interest rates for a longer period of time, according to an economic outlook from Deloitte. Canada’s economy contracted slightly in the second quarter of 2023 and Deloitte is forecasting continued GDP decline.
- U.S. inflation rose on gas and shelter costs in September
- Companies have been quick to pass higher costs on to customers, BoC finds
- Inflation uptick could mean interest rates stay higher for longer