at higher rates and nervous shoppers cut back on non-essential purchases. A pair of Bank of Canada surveys published last week found that the majority of businesses and consumers expect a recession in the next year. The central bank itself is forecasting that the economy will stall through the first half of 2023, posting near zero growth.
Most Fed officials indicated in December that they expect the policy rate will exceed 5 per cent by the end of 2023. However, traders and investors have begun to doubt the U.S. central bank will get that far. Financial markets are pricing a terminal policy rate of 4.75 per cent to 5 per cent. The strength of the labour market presents a particular challenge for the central bank. Canada added 104,000 jobs in December, and the unemployment rate dropped to 5 per cent, only slightly above a record low of 4.9 per cent reached last summer.
We heard this last year.
Sounds reasonable.
How about they just don’t?
And watch the house market crash more
TaxTheRich WealthTaxTime TaxHousesofWorship The ultra rich must contribute MORE!
This was the forecast before the last rate hike.
974 bankruptcies in November in BC alone after the last hike. How many more this week? Keep up the good work of helping Canadians and moving Canada forward liberal_party and JustinTrudeau and NDP and theJagmeetSingh Great team work.
Better yet don't hike at all and try to gain some credibility back
Without bringing in reckless spending by the government, the only thing we have to look for are more quarter-point rate hikes, pauses, and over and over again until we all people a slow and excruciating financial death.
globebusiness It has not worked and it continues to be disastrous. Old economic principles.
DumpTrudeau
8 years of liberal mismanagement is to blame. Covid lockdowns are also to blame but we were in trouble way before covid hit, and lockdowns were an impulsive and drastic measure we should not let any government get away with.
Food prices are still like crazy.
What a mistake. Making us poorer by deepening existing debt while increasing bank profit margins won't stem external supply issues & corporate greedflation. Time to change Governor for one who understands the market & doesn't bankrupt us (& his own bank)!
Because inflation is caused by forces outside of Canada, the BoC raises interest rates 🙄. Let’s be clear, our current economic woes are a result of Liberal mismanagement; 💯.
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