this post was submitted on 13 Jun 2023
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Governments shunting 'dirty work' on inflation to Bank of Canada, CIBC says - BNN Bloomberg (www.bnnbloomberg.ca)
submitted 2 years ago by sbv to c/[email protected]
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Economists are increasingly of the belief that Trudeau’s government is working at cross purposes to the central bank. Nearly 70 per cent of respondents to a Bloomberg survey say generous federal spending programs and higher immigration targets have led interest rates steeper than they would have otherwise needed to go.

Instead of targeted policy to limit reduce inflation, the federal and provincial governments have left the Bank of Canada to deal with it.

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[–] [email protected] 2 points 2 years ago

The BoCs mandate is to manage inflation, regardless of any excessive federal spending.

[–] [email protected] 0 points 2 years ago

Shocked Pikachu... Tiff is out there trying to cause a recession and unemployment meanwhile Freeland is boasting about the strong GDP and employment numbers. Makes me wonder if the "soft landing" they've been talking about is a multi-year process. Imagine a 3-4% inflation economy for the next 2-3 years.