Bank of Canada hands out millions in pay raises and bonuses while inflation soars
At best the Bank of Canada failed to keep a lid on rising prices and at worst it drove inflation by printing hundreds of billions of dollars out of thin air
By Canadian Taxpayers Federation -- Franco Terrazzano, Federal Director, CTF—— Bio and Archives--July 21, 2022
Canadian News, Opinion | Comments | Back To Full Article
OTTAWA, ON: The Bank of Canada gave its employees $45 million in pay raises and bonuses during the pandemic even though it failed to hit its inflation target, according to records obtained by the Canadian Taxpayers Federation.
"Why is the Bank of Canada patting itself on the back and handing out millions in bonuses and pay raises while Canadians are struggling to pay for groceries and gas?" asked Franco Terrazzano, Federal Director of the CTF. "If its objective is to keep inflation low, then it doesn't make sense for Canada's central bank to hand out bonuses and pay raises while the cost-of-living soars."
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