Ramping up interest rates at this juncture places more of the burden of fighting inflation on consumers.
The move by governments worldwide to substantially reduce the use of carbon fuels will likely produce even slower productivity growth.
If the inflation rate remains relatively stable over time, suppliers should know when higher prices signal increased scarcity.
A one percentage point increase in the effective interest rate would increase Ottawa's annual debt interest costs by $13.8 billion.
The Trudeau government will run a record budget deficit approaching $400 billion.
The federal debt will reach nearly 70 per cent of GDP by 2050.
The federal budget deficit in 2020-21 is an esitmated $343.2 billion.
Debt interest will cost Ottawa an estimated $19.5 billion this year.