Why the Bank of Canada should hike interest rates this week

The central bank will revise its forecasts this week, but in October it projected inflation will average 4.1 per cent in 2023, a drop from 6.8 per cent last year.

It also happened in 1976, the year Trudeau père introduced wage and price controls to slow inflation that had risen to as high as 12 per cent. But those efforts were for naught. A more useful guide, we believe, for today took place 70 years ago, as the start of the Korean War in 1950 sent inflation shooting to as high as 13 per cent. Douglas Abbott, finance minister at the time under Prime Minister Louis St. Laurent, aggressively moved to rein in demand even as the economy began to slow. He imposed surtaxes on both companies and households, while the Bank of Canada used its influence with commercial banks to slow credit.

Looking like we'll see another quarter point raise tomorrow maybe another one in march

Because the number of bankruptcies is stagnating.

Watch your step Tiff. Follow the guide, please.

Want to stop inflation? Then the government needs to stop hemorrhaging money! It's a no brainer!

Want to stop inflation? Then the government needs to stop hemorrhaging money! It's a no brainer!

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Bank of Canada expected to deliver final quarter-point rate hike, then pauseUnemployment remains near a record low and consumer spending is holding up relatively well in the face of higher prices and rising borrowing costs 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; 💯. 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)! Food prices are still like crazy.
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