Annual inflation peaked at 8.1 per cent in June 2022, well above the bank’s 2 per cent target.
bank of canada
The government's debt-to-GDP ratio has risen consistently since 2015.
Even after inflation is brought to heel, Canadians should not expect interest rates to return to pre-pandemic levels.
Reductions in purchasing power tend to be concentrated among lower-income workers.
Other central banks publish a projected interest rate path consistent with their economic outlook—not so in Canada.
Ottawa is spending nearly one-third more than it was in 2019 before the pandemic.
The central bank has acknowledged that it underestimated the inflationary effects of its actions.
The Bank of Canada's “easy” policies help explain the current pain at the pumps.
The 2021 agreement introduced a new goal—that monetary policy should also support maximum “sustainable” employment.
The goal of "maximum sustainable employment" is largely determined by forces beyond the central bank’s control.