Bank of Canada Execs Got $3.5M in Bonuses Despite Warning on Inflation
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Bank of Canada gave $3.5 million in bonuses to 80 of 82 executives in 2022 despite warning businesses against raising wages.
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Bonuses amounted to around $43,700 per executive on average.
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Bank execs have received $21 million in bonuses since 2015.
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Governor Tiff Macklem said not to build high inflation into contracts, but central bank increased own wages.
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Bank of Canada underestimated inflation in 2022, reaching 40-year high of 6.8%, missing 2% target.