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Rogers: Time to break the glass: Fixing Canada’s productivity problem
Good morning. Canada’s economy was built by trade and immigration. Halifax is not just a key port—it has also been the landing spot for countless new Canadians. So I’m glad to be here, speaking to a group like the Halifax Partnership, which is dedicated to helping Canadian businesses grow and thrive. We’ve just passed the fourth anniversary of the start of the COVID‑19 pandemic. It’s been four difficult years. Beyond its human toll, the pandemic upended economies around the world and sparked the biggest global inflationary episode in decades. This led central banks—including the Bank of Canada—to raise ... (full story)
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BoC's Rogers: Inflation has come a long way down, we need to finish the job
"Canada urgently needs to boost productivity to help hedge against the risk of higher inflation," Bank of Canada (BoC) Senior Deputy Governor Carolyn Rogers said on Tuesday. Key takeaways "Low Canadian productivity is an emergency." "Inflation has come a long way down, we need to finish the job." In the future, inflation may be more of a threat than it has been over the past few decades." "Productivity is a way to inoculate the economy against inflation; an economy with low productivity can only grow so quickly before inflation sets in." "In the wake of the pandemic, we thought productivity in Canada would improve; ... (full story)