David Dodge is featured in Reuters, commenting on the Bank of Canada's warning that inflation will persist well into next year and that interest rates are likely to start moving higher sooner than previously thought.
He says, "What the bank is saying, and quite rightly, is that the upward movement in inflation over the period that we are in ... turned out to be a bit bigger than they had expected. So that's not totally surprising, and forecasts are forecasts."
David adds, "But what they're also saying is that they think it's going to go on now a bit longer than they had anticipated, which I think is right, and they are reacting to that."
Bennett Jones