Deputy Governor Toni Gravelle told a business audience there was much to be hopeful for as the pandemic recovery picked up pace. Annual inflation in October hit 4.7%, the highest level since February 2003. OTTAWA, Dec 9 (Reuters) - The Bank of Canada is concerned the factors fueling price increases, such as supply disruptions and related cost pressures, could last longer than expected, leading to more persistent inflation, an official said on Thursday.