Bank of Canada official visits Westman

Local businesses had a direct line to Canada’s central bank last week as Carolyn Rogers visited Brandon and Westman.

The senior deputy governor toured some operations across the region, including Southern Seeds Ltd. and JNC Family Farms in Minto, and Behlen Industries on Douglas Street. She also spoke at the Brandon Chamber of Commerce’s March luncheon before she met some community leaders in the Wheat City.

Rogers said the primary purpose of such visits is to better understand how national and global economic forces are affecting businesses on the ground.

“The motivation is to talk to businesses,” Rogers told the Sun. “The economy is made up of businesses and consumers, so getting out into different regions and industries helps us understand how economic shocks are influencing real decisions.”

The conversations, she said, showcased one of Westman’s key economic strengths.

“I think Westman is a good example of a regional economy that’s diversified,” Rogers said. “The presence of agriculture, manufacturing, retail and education in the region helps.”

She said many of the businesses show signs of resilience despite ongoing uncertainty and economic pressures.

“We were really encouraged to hear that businesses are continuing to invest, grow their business and improve productivity,” she said in an interview. “Such efforts will help the region better withstand future economic shocks.”

Rogers said the outreach is a regular part of the bank’s work. Through regional offices, quarterly business outlook surveys and frequent visits by members of the governing council, she said, the bank gathers insight from across the country.

Officials are typically on the road eight or nine times a year, speaking directly with businesses and community leaders.

The feedback gathered, she said, helps the bank interpret how broad global trends — such as geopolitical tensions, trade uncertainty and technological change — translate into local business decisions.

In Westman, where agriculture, transportation and manufacturing play key roles, Rogers said national monetary policy must balance diverse regional conditions. While Manitoba currently has slightly higher inflation and lower unemployment than the national average, the bank’s focus remains on controlling inflation across the country.

“We set one interest rate for all of Canada,” she said. “Our job is to control inflation at a national level, even though regional differences exist at any given time.”

Local business leaders, she said, are closely watching many of the same indicators as the bank, including U.S. trade policy, oil prices and the growing influence of artificial intelligence. Recent geopolitical developments, particularly the conflict affecting global oil markets, are also top of mind.

Rogers cautioned that rising energy prices are expected to push inflation higher in the near term.

“You already see the effects at the pump,” she said. Increased transportation costs will likely ripple through supply chains and affect consumer prices, including groceries and travel, Rogers said.

“What we’ll be watching closely is whether those increases spread more broadly and become persistent inflation,” she said.

Looking ahead to the bank’s 2026 monetary policy framework renewal, Rogers emphasized the importance of continued engagement with communities like those in Westman. She said increased direct consultation with businesses will play a growing role in shaping policy decisions.

“When there’s a lot of change and repeated shocks in the economy, it’s even more important to get out and understand how those changes are affecting individual businesses,” she said.

» aodutola@brandonsun.com

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