In a recent interview with BNN Bloomberg, Alberta Central Chief Economist spoke about how wages are still increasing at a fast rate despite other areas of the economy slowing down.
Charles St-Arnaud joined BNN to discuss the September CPI report, which showed inflation slowing relative to August. He says the Bank of Canada (BoC) will note that wages are actually accelerating even as household spending shows a decline in real terms. He adds that the BoC is likely to be patient and foresees a low probability for another rate hike in next week’s meeting.
View the interview here.