National Bank of Canada CEO on screen in empty boardroom, downtown skyline visible at dusk.
The CEO of the National Bank of Canada has signaled that the ongoing conflict in the Middle East is likely to contribute to rising inflation and necessitate higher interest rates. This outlook is primarily driven by anticipated disruptions to global supply chains for essential goods.
During a recent conference call, the bank’s executive highlighted that in the current environment, characterized by elevated uncertainty and a cooling labor market, further gradual increases in Personal and Commercial Loans (PCL) are expected. These factors collectively point towards a more cautious economic landscape and potential shifts in monetary policy.
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