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Bank of Canada Should ‘Be Humble’ on Inflation Risk, Dodge Says

  • Ex-governor sees potential for consumer price gains to persist
  • Yearly increase likely to top 3% again in data due this week
David Dodge.

David Dodge.

Photographer: Norm Betts/Bloomberg

Bank of Canada officials need to “temper their enthusiasm” that strong inflation readings will be short-lived, according to one former governor.

There’s a chance underlying price pressures in the economy remain above the central bank’s 1% to 3% control range into 2023, David Dodge said in an interview, adding that policy makers led by Governor Tiff Macklem should acknowledge that possibility.