The Bank of Canada (BoC) paid out almost $27 million in raises and bonuses in 2022, according to Access to Information records, despite admitting that it made poor inflation forecasts.
Records obtained by the Canadian Taxpayers Federation (CTF) showed that about half (49 percent) of the central bank’s workforce, or 1,095 employees, were paid over $100,000 last year, as first reported by Blacklock’s Reporter.
In addition, “The average bonus among staff was $11,200, with 80 percent of the workforce receiving one,” wrote the CTF in a press release on July 13. This represents nearly 1,800 employees.
Bonuses amounted to over $20.2 million in 2022, and records showed that the Crown corporation also paid out over $6.5 million in raises the same year….