Happy Friday,

I sold my house in April and have been living in my cottage ever since. While living on the water over the summer has been a dream, I recognized that I need to have a place in the city. However, given the market and interest rates, I’ve decided to hold off.

88% of Canadians between the age of 25 and 44 own real estate and have a mortgage. So by now, I’m sure that you are aware that the Bank of Canada raised interest rates by an entire percent this week, the most significant hike since 1998.

For its part, the Bank of Canada has admitted missteps and is promising more transparency. Some 20% of the forecast errors were due to an underestimation of supply chain pressures.

“Is there always room for more transparency? Probably. That’s something we’re reflecting on right now,” said Senior Deputy Governor of the Bank of Canada, Carolyn Rogers.

Rogers recognizes the need for transparency; she is tapping into an essential trait of agile leadership. 80% of today’s workers want insights into how decisions are made at their organization, and 87% of today’s job seekers wish for transparency in their future workplace.

This desire contrasts that only ~50% of employees who believe their employer is open and upfront with them.

As a leader, how are you already demonstrating transparency with your team and organization? How are you bringing more transparency into the work you do?

Along the road with you,

Alan

Strong Leaders And Strong Organizations Are Transparent | Forbes

Bank of Canada says recent inflation forecast errors due mainly to global shocks | Reuters

3 Strategies for Leading Through Difficult Times | HBR

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