An ex-member of the Bank of Canada’s governing body said officials should cut borrowing costs by half a percentage point later this month.
Charles St-Arnaud, chief economist with Alberta Central and former economist at Bank of Canada , joins BNN Bloomberg and shares his thoughts on Canada 's economic slowdown.
Now that policymakers are more sure that wage growth, expectations and corporate pricing are going in the right direction, Beaudry sees borrowing costs moving lower faster as the bank eyes a sustainable return to 2% inflation. In the interview, Beaudry said the Bank of Canada tries to communicate where it’s going by sharing its take on the economy, and doesn’t intend to shock participants with decisions unless necessary.
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