Low productivity poses national emergency, impacting inflation and living standards

Summary: Senior Deputy Governor Carolyn Rogers of the Bank of Canada warns of a national "emergency" due to weak productivity and low business investment, impacting inflation and living standards. Canada's productivity has fallen to 71% of the US, with declining productivity for six quarters. Factors include limited competition, regulatory uncertainty, and underutilization of skilled immigrants. Boosting productivity is crucial for economic growth and controlling inflation. The Bank's next interest rate decision is on April 10.

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