With inflation burning as hot as a \u0027four\u002Dalarm fire,\u0027 Canada\u0027s central banker is moving aggressively to tamp it out. But it leaves their
“Recession calls have become mainstream for the broader economy,” Porter wrote in a recent note to clients.of recession has to be a secondary consideration to theThis is the Bank of Canada’s fourth interest rate increase in five months, and Macklem has already signalled it’s not done yet.In fact, the major criticism from Canadian economists has been that the Bank of Canada waited too long to pull out the big guns compared to other central bankers.
The Reserve Bank of New Zealand announced its first interest rate hike in October of last year. And while the economy has started to show some signs of slowing, Governor Adrian Orr insists it was correct for the bank to move early and fast, saying it remains “resolute in its commitment” to bring down inflation.
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