Bank of Canada: Limited Evidence of Broad-Based Energy Price Pass-Through

The Bank of Canada’s Governing Council said it is continuing to look through the near-term impact of the Middle East war on headline inflation. In a statement, the central bank noted there has been limited evidence so far of a broad-based pass-through of higher energy prices to other consumer prices.

The remarks suggest the BOC sees the current inflation spike from energy as temporary and is not yet triggering broader price pressures, which could influence its monetary policy stance.