Bank of Canada governor Tiff Macklem says it\u0027s \u0022plausible\u0022 higher interest rates could slow the economy faster than in the past. Read on.
was about 170 per cent in 2012, about 116 per cent in 2002, and about 94 per cent in the third quarter of 1992.
Macklem’s hope is that higher interest rates will deflate “excess demand” without causing a spike in unemployment, giving suppliers a chance to catch up with unfilled orders, reducing inflationary pressures in the process.Article content
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