The Bank of Canada may have to raise interest rates further, given that inflation may stay high for some time, said governor Tiff Macklem Thursday.
The Bank of Canada may have to raise interest rates further, given that inflation may stay high for some time, said governor Tiff Macklem Thursday.
Disappointing, but not entirely surprising. I’m seeing people shouting “Argentina! Argentina!” already, which is hyperbolic to the point of being ridiculous. However, if you want an Argentinian economy, sowing doubt in the stability of the Bank is a great way to do it.
A 5% interest rate and inflation that is higher than it should be, but not even piercing double digits is not the crisis these ‘Chicken Littles’ are bemoaning. At least not yet.