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.

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.