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Bank of Canada surveys suggest business and consumer inflation expectations up

A pair of new reports from the Bank of Canada point to rising inflation expectations by Canadian businesses and consumers. In its business outlook survey released Monday, the central bank said businesses' expectations for near-term inflation have increased, and firms expect inflation to be high for longer than they did in the previous survey.

The Bank of Canada headquarters is seen, Wednesday, June 1, 2022 in Ottawa. THE CANADIAN PRESS/Adrian Wyld