A recession could be in the cards for Canada’s economy, according to some prominent Bay Street economists. Here's a roundup of reaction by iva_poshnjari
A recession could be in the cards for Canada’s economy, according to some prominent Bay Street economists.The Bank of Canada has begun an aggressive course of interest rate hikes to deal with inflation, which some experts worry could push the economy over the edge. to have contracted by 0.2 per cent in May, according a flash estimate from Statistics Canada on Thursday. The preliminary data is adding to fears higher interest rates are already taking a toll on growth while inflation runs rampant.
A further shock to world food and energy prices that would make it extremely difficult for central banks to contain inflation expectations while keeping the economy growing.”“Placing definitive odds on a recession is something of a fool’s errand. If pushed, we’d assign a roughly one-third chance of recession at this point in time, although this risk assessment remains fluid. With each successive and aggressive rate hike by the Bank of Canada and the U.S. Fed, risks of a hard landing accumulate.
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