was about 170 per cent in 2012, about 116 per cent in 2002, and about 94 per cent in the third quarter of 1992.
Macklem’s hope is that higher interest rates will deflate “excess demand” without causing a spike in unemployment, giving suppliers a chance to catch up with unfilled orders, reducing inflationary pressures in the process.Article content
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Bank of Canada Governor Tiff Macklem to make year-end speech todayBank of Canada Governor Tiff Macklem is expected to make an end of the year speech this afternoon. The remarks come after the central bank hiked its key interest rate by half a percentage point on Wednesday, bringing it to 4.25 per cent – the highest it's been since January 2008. Since March, the Bank of Canada has hiked its key interest rate seven consecutive times in an effort to bring inflation down and slow the economy. The central bank signaled last week that it might be ready to pause its
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