Addressing supply issues not substitute for rate hikes, says Bank of Canada official

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Addressing supply issues not substitute for rate hikes, says Bank of Canada official
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OTTAWA — Bank of Canada senior deputy governor Carolyn Rogers says addressing supply problems could help ease inflationary pressures but such policies wou

Rogers and governor Tiff Macklem appeared before the Senate banking committee Tuesday evening and responded to questions from senators about the bank’s monetary policy and the state of the economy.

The officials were asked whether government could play a role in fighting high inflation, and in response, Rogers said policies that address supply issues would help reduce inflation. Last week, the central bank raised interest rates for the sixth consecutive time this year, raising its key interest rate by half a percentage point and indicating rates would have to rise further.

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