Royal Bank of Canada chief executive officer David McKay said the country’s central bank needs to take “rapid action” with multiple interest rate increases to bring inflation under control.
Speaking in an interview with Bloomberg News on Tuesday, McKay said he does not think the recent acceleration of inflation was transitory. He sees some signs of a wage-price cycle taking root that has already pushed up costs permanently. # SANDI HALPERN # SOLD # LEASED #INFLATION # INTEREST RATES #RBC
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