Kevin Carmichael: Why Big Labour should be thanking the Bank of Canada, not bashing it via financialpost
of 50 basis points that left the benchmark rate at 4.25 per cent, four percentage points higher than at the start of the year.Lana Payne
Sometimes, criticism results in better policy. Other times, the central bank simply becomes a punching baga full percentage pointThe governor joined an event hosted by the Canadian Federation of Independent Business, where he was asked to advise smaller businesses on how to cope with elevated inflation, which had surged to 8.1 per cent the previous month., according to the transcript published by the CFIB.
“The Liberals and the Bank of Canada have no problem asking working people to tighten their belts, but they refuse to demand greedy companies pay their fair share,” Daniel Blaikie, the NDP’s finance critic, said in a statement after Statistics Canada reported thatThis advertisement has not loaded yet, but your article continues below.This is what people mean when you hear them talk about “politicizing” the central bank.
If union leaders think the Bank of Canada is on the side of Corporate Canada, they didn’t read the transcript of Macklem’s appearance in November at the House finance committee. The governor responded to a question from NDP Leader Jagmeet Singh by observing that “some businesses are passing on their costs very quickly” and, therefore, “they are maintaining their profits.”Article content
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kevin Carmichael: Why Big Labour should be thanking the Bank of Canada, not bashing itBank of Canada\u0027s fight against inflation with higher interest rates has made it an easy target. Read more from Kevin Carmichael
Read more »
Kevin Carmichael: Why Big Labour should be thanking the Bank of Canada, not bashing itBank of Canada\u0027s fight against inflation with higher interest rates has made it an easy target. Read more from Kevin Carmichael
Read more »
Peter Hall: Why the Bank of Canada's awful medicine is exactly what the economy needsIt’s not so much prices, but price expectations, that matter, writes Peter Hall. Read on.
Read more »
Bank of Canada Governor Tiff Macklem to make year-end speech todayBank of Canada Governor Tiff Macklem is expected to make an end of the year speech this afternoon. The remarks come after the central bank hiked its key interest rate by half a percentage point on Wednesday, bringing it to 4.25 per cent – the highest it's been since January 2008. Since March, the Bank of Canada has hiked its key interest rate seven consecutive times in an effort to bring inflation down and slow the economy. The central bank signaled last week that it might be ready to pause its
Read more »
Kevin Hart coming to Canadian Tire Centre this springPopular comedian Kevin Hart has announced seven new Canadian tour dates, including Ottawa.
Read more »