No one wants to take the blame for Canada’s soaring inflation rate. Not the Bank of Canada. And not the government.
But the problem was clearly exacerbated by policymakers in Ottawa who kept pumping gargantuan inflationary stimulus into the economy well after the pandemic recovery had begun, as Ian Lee discusses with Anthony Furey in this week’s episode. Canadians will pay a steep price in unintended consequences, says Lee, associate professor at Carleton’s Sprott School of Business. Young people especially will have more reasons to feel shafted, he says.
anthonyfurey Inflation must be defeated. Instead the bankofcanada wants to moderate their rate tightening to protect indebted households who gorged on cheap credit card, mortgage & HELOC debt, fueled by BoC’s low interest rate & QE policies. They’re telling us to just suck up 7-8% inflation!
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