In recent coverage from and the Calgary Herald, Chief Economist Charles St-Arnaud was quoted speaking about rising debt levels as a result of inflation and what he expected the Bank of Canada to do at the next meeting:

Charles St-Arnaud, chief economist with Alberta Central, said while some of the headline indicators have improved, such as the cost of gas, many of the key underlying contributors are still causing inflationary pressure.

He said he expects the Bank of Canada to raise the overnight interest rate target on Jan. 25 by 25 basis points to 4.5 per cent. He said any future increases will depend on how the economy responds, noting that while Canada’s 12-month inflation rate of 6.8 per cent has improved, the three-month rate of four per cent is still too high for the central bank.

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