Bank Of Canada Warns “Very Distressing” Bridge Blockade Could Impact Economy

Update (1428ET): Bank of Canada (BoC) Governor Tiff Macklem explained this afternoon that the Ambassador Bridge blockade is very distressing and could impact the economy. He said the disruption at the busiest commercial crossing between the U.S. and Canada could further strain supply chains.

Macklem’s concern comes as the central banker has signaled the future path of interest-rate increases this year. He said it’s time to raise interest rates from emergency levels to quell inflation.

“Productivity growth is vital to non-inflationary growth and rising standards of living,” he said in recent prepared remarks to the Canadian Chamber of Commerce. “At a time when inflation is already well above our target, this is more vital than ever.” 

Canadian rate markets are pricing a little more than six interest rate hikes by December to cool inflation.

However, Macklem could use the blockade, if it occurred long enough, as a scapegoat for the economic woes Canada is experiencing: growth is falling and inflation soaring, otherwise known as stagflation.

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At least one hundred protesters and dozens of vehicles blocked traffic between the busiest commercial crossing between the U.S. and Canada, the Ambassador Bridge, for the third day on Wednesday as some truckers have been given orders to re-route deliveries hundreds of miles to avoid logjams.

“Problems for motorists heading toward the U.S. border continue. The Ambassador Bridge between Windsor and Detroit remains closed,” according to CityNews Toronto’s traffic reporter Kyle Hocking.

Detroit’s WWJTraffic provides a traffic camera view of a highway that leads to the bridge, showing what appears to be hundreds of trucks in gridlock. The local news outlet said, ” Ambassador Bridge into Canada remains closed.”

Looking at traffic cam footage of a section of the bridge from Canada into the U.S., limited activity appears.

Footage of the bridge into Canada also appears to be limited to no activity.

Supply chain website FreightWaves sheds more color onto the Ambassador Bridge situation, also saying the critical bridge “remained closed as several dozen vehicles, including some trucks, continued to block an access road from the Canadian side.”

These reports seem contrary to Bloomberg’s headlines on Tuesday afternoon that said the “Ambassador Bridge reopened to trucks after protest closure.”

We noted a logistical nightmare is playing out on the U.S.–Canada border in the Detroit area as trucks carrying goods have had to shift their routes. There have been some instances that truckers have detoured hundreds of miles.

Protests against the COVID-19 vaccine mandate for truckers stretches into the third day could be problematic for Detroit’s auto industry and may cause it to come to a “screeching halt” if part suppliers from Canada cannot deliver parts.


7 Replies to “Bank Of Canada Warns “Very Distressing” Bridge Blockade Could Impact Economy”

  1. david k gates

    TRUDEAU is being HAMMERED and threatened with SEVERE PAIN and DEATH by his MASTERS if he doesnt get this under control and get ALL injected

  2. Kim

    What a time in history! We are witnessing the takedown of the global cabal! Good riddance to the evil. Love has come to reign! We, the people are remembering what we are and whom we belong to. God Sparks every one of us! 🇨🇦♥️🚛🚚🛻♥️🇺🇸

  3. PS

    Bring it down. Bring it all down! Bring this whole, stinking, rotten, slave system down! Let the Cabal choke on its own fetid bureaucracy!

    There may be temporary pain and chaos, but I know that We the People doing this is far less damaging than if the Cabal were doing this. The Cabal would have you live in that pain and chaos for decades. We the People, however, can keep it minimized to several weeks before we get our own systems functioning.

  4. Daedalus

    Ah, now its very “distressing”, but it wasnt distressing when Turdeau closed the whole country and made himself a petty puppet dictator for life.

    They reap what they sow, and their actions smell so much of big desperation. Anyone – from blindly obedient police to neoliberal whiners to banksters – who supports the Canadian traitor government, is getting what they deserve now.

    And no, there wasnt a single act of violence there… but there were massive acts of unity shown. Let the traitors choke in their hatred and bitterness.

  5. Wanderer

    It’s simple: If the transport business stands still, soon the whole economy will come to a standstill.

    Government then has to do what the people want, not vice-versa, although they will blame the economical hardship to the truckers and the millions of people supporting Freedom Convoy.
    If government then still refuses to give in, they disclose themselves being anti-democratic and may run for the next rabbit hole!