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Canadians Lack Confidence in Fight to Curb Inflation, Poll Shows

  • Results raise fear of price expectations becoming deanchored
  • Bank of Canada set to enter rate-hiking cycle next year
Operations Inside An Aisle24 Cashier-Less Store
Photographer: Graham Hughes/Bloomberg

Canadians are unconvinced that policy makers will be able to rein inflation back to pre-pandemic levels, a worrying development that could reinforce the need for the Bank of Canada to be vigilant about price pressures.

A large majority of Canadians, or 63.5%, say they lack confidence that inflation will return to more normal levels, according to a survey by Nanos Research Group for Bloomberg News.