Rosenberg predicted a “severe recession” for Canada next year based on the rate hike cycle, calling for a “triple whammy” with economic impacts compounded by high levels of household debt, a housing bubble and ripples in the global economy.
Based on the latest rate increase, Rosenberg said he predicts at potentially one more rate hike from the bank before a pause. Once inflation starts to come down, Rosenberg said he thinks the central bank may start to cut rates, possibly in the second half of 2023.
what if inflation persists?
Warren Buffett: Any business that employs an economist, has one employee too many.
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Poilievre appears in rare Commons scrumConservative Leader Pierre Poilievre joined press gallery reporters on Dec. 7 in a rare scrum on Parliament Hill. Standing at the microphone before Question Period, it was Poilievre’s (Carleton, Ont.) first back-and-forth with the press in the House of Commons’ foyer in nearly two months. The nearly nine-minute Q&A went smoother than his last appearance on Sept. 13, days after he became leader, when Global News’ David Akin took issue with Poilievre’s team’s plan to not take questions during the availability. Since that testy exchange—as was the case during the seven-month leadership race—Poilievre’s interactions with media have been minimal and mostly with local reporters over parliamentary journalists. Conservative Leader Pierre Poilievre spoke with reporters on Dec. 7 in the House of Commons’ foyer about a RCMP contract awarded to China-linked company that is now under review, as well as the Bank of Canada interest rate hikes. The Hill Times photograph by Andrew Meade Asked about the Bank of Canada raising the benchmark interest rate to 4.25 per cent, Poilievre called it an ‘another uppercut for Canadians.’ The Hill Times photograph by Andrew Meade Poilievre said the Bank of Canada interest rate hike is ‘all because of the inflationary deficits and spending of [Prime Minister] Justin Trudeau. Even the Bank of Canada governor has said if deficits were smaller, inflation and interest rates would be lower.’ The Hill Times photograph by Andrew Meade Poilievre blamed the Bank of Canada interest rate hike on Trudeau, saying the ‘average Canadian is paying the price for that’ and suffering as a result. The Hill Times photograph by Andrew Meade Poilevre spoke to reporters for nearly nine minutes ahead of Question Period on Dec. 7. The Hill Times photograph by Andrew Meade The Hill Times At least he lets the press gallery ask questions and he answers them. Unlike JustinTrudeau who, when he is NOT on vacation, does prepared talking points and if you ask a question … HE DOES NOT CARE. Trudeau gives Canada sound bytes NEVER answers.
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